79,000 Shares in Cognizant Technology Solutions Corporation $CTSH Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 79,000 shares of the information technology service provider’s stock, valued at approximately $4,847,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Checchi Capital Advisers LLC increased its holdings in shares of Cognizant Technology Solutions by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,852 shares of the information technology service provider’s stock worth $320,000 after acquiring an additional 127 shares during the last quarter. Unison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 0.5% in the fourth quarter. Unison Advisors LLC now owns 30,095 shares of the information technology service provider’s stock valued at $2,498,000 after purchasing an additional 138 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Cognizant Technology Solutions by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,130 shares of the information technology service provider’s stock valued at $177,000 after purchasing an additional 143 shares during the period. Security National Bank of SO Dak raised its position in shares of Cognizant Technology Solutions by 0.6% in the second quarter. Security National Bank of SO Dak now owns 24,635 shares of the information technology service provider’s stock valued at $1,922,000 after purchasing an additional 150 shares during the period. Finally, Cidel Asset Management Inc. lifted its stake in shares of Cognizant Technology Solutions by 3.0% during the 4th quarter. Cidel Asset Management Inc. now owns 5,535 shares of the information technology service provider’s stock worth $459,000 after buying an additional 163 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 2.2%

Shares of CTSH opened at $40.03 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12 month low of $38.97 and a 12 month high of $87.03. The firm’s 50 day moving average is $51.46 and its 200-day moving average is $65.41. The stock has a market capitalization of $18.97 billion, a PE ratio of 8.70, a P/E/G ratio of 0.82 and a beta of 0.81.

Cognizant Technology Solutions (NASDAQ:CTSH) 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, beating the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. 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 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has authorized a stock repurchase program on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTSH shares. Mizuho decreased their target price on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. BMO Capital Markets reduced their price target on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. TD Cowen decreased their price objective on Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating on the stock in a report on Friday. Berenberg Bank set a $59.00 price objective on Cognizant Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Finally, Robert W. Baird set a $72.00 target price on Cognizant Technology Solutions and gave the stock a “neutral” rating in a report on Friday, April 10th. Ten equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $69.70.

Cognizant Technology Solutions 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.