NEOS Investment Management LLC Has $3.02 Million Stock Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• NEOS Investment Management cut its Cognizant stake by 77.1% in the second quarter, selling 262,380 shares and retaining 78,063 shares valued at approximately $3.02 million. Institutional investors collectively own 92.44% of the company.
• Cognizant reported quarterly revenue of $5.48 billion, up 4.5% year over year, while EPS of $1.37 narrowly missed estimates. The company authorized a $2 billion share-buyback program covering up to 9% of outstanding shares.
• The company pays a quarterly dividend of $0.33, equivalent to a 2.1% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $63.00.

NEOS Investment Management LLC lowered its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 77.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,063 shares of the information technology service provider's stock after selling 262,380 shares during the period. NEOS Investment Management LLC's holdings in Cognizant Technology Solutions were worth $3,023,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $25,000. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $29,000. Signature Equity Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 102.4% in the first quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider's stock valued at $37,000 after buying an additional 303 shares in the last quarter. Reflection Asset Management acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $40,000. Finally, MV Capital Management Inc. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $62.31 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. The firm has a market cap of $28.07 billion, a PE ratio of 13.40, a P/E/G ratio of 1.16 and a beta of 0.83. The business has a 50 day moving average of $52.97 and a 200-day moving average of $54.98. Cognizant Technology Solutions Corporation has a 12-month low of $37.08 and a 12-month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.48 billion. During the same period in the prior year, the firm posted $1.31 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has authorized a share buyback plan on Monday, May 18th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 2.1%. Cognizant Technology Solutions's payout ratio is currently 28.39%.

Analysts Set New Price Targets

CTSH has been the topic of a number of analyst reports. Daiwa Securities Group lowered their target price on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on Cognizant Technology Solutions in a report on Friday, July 10th. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a report on Thursday, July 30th. Truist Financial initiated coverage on Cognizant Technology Solutions in a research report on Monday, June 1st. They set a "hold" rating and a $66.00 target price on the stock. Finally, Berenberg Bank set a $59.00 price target on Cognizant Technology Solutions and gave the stock a "hold" rating in a report on Wednesday, June 17th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and a consensus price target of $63.00.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions NASDAQ: CTSH is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.

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