Strs Ohio Raises Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Strs Ohio dramatically increased its stake in Cognizant Technology Solutions, boosting holdings by 1,467.9% in Q1 to 181,562 shares valued at about $11.1 million.
• Wall Street sentiment is mixed: analysts still show a consensus rating of “Hold,” with 11 Buy ratings and 14 Hold ratings, and a consensus price target of $68.35.
• Cognizant reported solid quarterly results and shareholder returns, posting EPS of $1.40 on revenue of $5.41 billion, while also announcing a quarterly dividend and a new $2 billion stock buyback program.

Strs Ohio raised its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1,467.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,562 shares of the information technology service provider's stock after purchasing an additional 169,982 shares during the period. Strs Ohio's holdings in Cognizant Technology Solutions were worth $11,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Physician Wealth Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider's stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $28,000. Prosperity Bancshares Inc acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $29,000. Finally, Towne Trust Company N.A increased its holdings in Cognizant Technology Solutions by 85.0% in the fourth quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider's stock valued at $31,000 after buying an additional 170 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the subject of several analyst reports. Weiss Ratings cut Cognizant Technology Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. cut their target price on Cognizant Technology Solutions from $92.00 to $74.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 28th. Guggenheim lowered their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 30th. The Goldman Sachs Group set a $75.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, April 29th. Finally, TD Cowen cut their price objective on shares of Cognizant Technology Solutions from $62.00 to $47.00 and set a "hold" rating on the stock in a report on Friday, June 26th. Eleven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and a consensus price target of $68.35.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $41.99 on Monday. The stock has a market cap of $19.90 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The business has a 50-day moving average price of $49.48 and a 200 day moving average price of $63.80.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 3.1%. Cognizant Technology Solutions's dividend payout ratio is currently 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock buyback plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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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