Commerzbank Aktiengesellschaft FI Grows Stock Position in Cognizant Technology Solutions Corporation $CTSH

Commerzbank Aktiengesellschaft FI raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1,138.8% in the 1st quarter, Holdings Channel reports. The fund owned 38,738 shares of the information technology service provider’s stock after purchasing an additional 35,611 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Cognizant Technology Solutions were worth $2,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth $25,000. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth $28,000. Physician Wealth Advisors Inc. increased its stake in 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 buying an additional 213 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Wells Fargo & Company dropped their target price on Cognizant Technology Solutions from $83.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, July 10th. UBS Group cut their price target on Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Finally, Citigroup lowered their price objective on Cognizant Technology Solutions from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.26.

Cognizant Technology Solutions Trading Down 2.3%

Shares of NASDAQ CTSH opened at $43.63 on Wednesday. The stock’s 50 day moving average price is $47.29 and its two-hundred day moving average price is $60.32. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The stock has a market capitalization of $20.67 billion, a P/E ratio of 9.48, a PEG ratio of 0.98 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 (NASDAQ:CTSH) last issued its 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. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the firm earned $1.23 EPS. The business’s 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, analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.0%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Cognizant Technology Solutions announced that its Board of Directors has authorized a share buyback program on Monday, May 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.