Wealthfront Advisers LLC Has $1.95 Million Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Wealthfront Advisers LLC cut its Cognizant Technology Solutions stake by 45.7% in the first quarter, selling 26,693 shares and ending with 31,741 shares worth about $1.95 million.
• Cognizant reported stronger-than-expected quarterly results, with EPS of $1.40 versus the $1.33 consensus, and revenue of $5.41 billion, up 5.8% year over year.
• The company also announced a $2 billion share repurchase program and a quarterly dividend of $0.33 per share, implying an annualized yield of about 3.0%.

Wealthfront Advisers LLC decreased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 45.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,741 shares of the information technology service provider's stock after selling 26,693 shares during the period. Wealthfront Advisers LLC's holdings in Cognizant Technology Solutions were worth $1,947,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its position in shares of Cognizant Technology Solutions by 25.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,829 shares of the information technology service provider's stock worth $296,000 after buying an additional 977 shares during the period. Hillsdale Investment Management Inc. grew its position in Cognizant Technology Solutions by 17.0% in the first quarter. Hillsdale Investment Management Inc. now owns 14,430 shares of the information technology service provider's stock valued at $885,000 after acquiring an additional 2,100 shares during the period. Legacy Capital Group California Inc. bought a new stake in Cognizant Technology Solutions in the first quarter valued at $864,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Cognizant Technology Solutions by 17.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,171 shares of the information technology service provider's stock worth $1,115,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Cognizant Technology Solutions by 32.4% during the first quarter. Bleakley Financial Group LLC now owns 17,422 shares of the information technology service provider's stock valued at $1,069,000 after acquiring an additional 4,259 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $44.64 on Tuesday. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03. The firm has a market cap of $21.15 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The business has a fifty day moving average of $47.37 and a 200-day moving average of $60.60.

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

Cognizant Technology Solutions announced that its Board of Directors has authorized a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions's dividend payout ratio is presently 28.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTSH. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $55.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Evercore cut their price target on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a report on Thursday, April 30th. Jefferies Financial Group reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Wedbush raised shares of Cognizant Technology Solutions from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $56.00 to $70.00 in a research note on Monday, June 8th. Finally, Guggenheim dropped their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $64.26.

About Cognizant Technology Solutions

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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