Sequoia Financial Advisors LLC Reduces Stock Position in Cognizant Technology Solutions Corporation $CTSH

Sequoia Financial Advisors LLC lessened its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,540 shares of the information technology service provider’s stock after selling 19,320 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cognizant Technology Solutions were worth $3,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evolve Private Wealth LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $2,642,000. OFI Invest Asset Management purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at $8,421,000. Arrowstreet Capital Limited Partnership raised its position in Cognizant Technology Solutions by 34.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock valued at $238,565,000 after purchasing an additional 734,337 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions by 14.9% in the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after purchasing an additional 2,633,683 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Cognizant Technology Solutions by 44.4% during the 4th quarter. Corient Private Wealth LLC now owns 108,131 shares of the information technology service provider’s stock worth $8,977,000 after purchasing an additional 33,248 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CTSH shares. Berenberg Bank set a $59.00 price objective on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a report on Wednesday, June 17th. Nomura lowered their target price on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Mizuho reduced their price target on shares of Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Wedbush upgraded 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 report on Monday, June 8th. Finally, Evercore lowered their price objective on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Eleven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $64.26.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $44.16 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87. The stock’s 50-day moving average is $48.09 and its two-hundred day moving average is $62.04. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period 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. Analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is 28.70%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.