iA Global Asset Management Inc. Boosts Stake in Cognizant Technology Solutions Corporation $CTSH

iA Global Asset Management Inc. lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 78.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 107,102 shares of the information technology service provider’s stock after acquiring an additional 47,054 shares during the period. iA Global Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $6,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $28,000. Physician Wealth Advisors Inc. lifted its stake in Cognizant Technology Solutions by 165.1% during the fourth 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 bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Prosperity Bancshares Inc purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $29,000. Finally, Towne Trust Company N.A increased its position in shares of Cognizant Technology Solutions by 85.0% during the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 170 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Mizuho decreased their price objective on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $70.00 in a research note on Monday, June 8th. JPMorgan Chase & Co. reduced their price target on shares of 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. Weiss Ratings downgraded shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a report on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.35.

Cognizant Technology Solutions Trading Up 6.0%

Shares of CTSH stock opened at $41.07 on Thursday. The business has a 50-day moving average of $50.18 and a 200 day moving average of $64.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. The stock has a market capitalization of $19.46 billion, a PE ratio of 8.93, a P/E/G ratio of 0.82 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.41 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’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. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is presently 28.70%.

Cognizant Technology Solutions declared that its board has initiated a share repurchase plan on Monday, May 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.