Cognizant Technology Solutions Corporation $CTSH Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 752.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317,166 shares of the information technology service provider’s stock after acquiring an additional 1,162,580 shares during the quarter. Lazard Asset Management LLC owned approximately 0.28% of Cognizant Technology Solutions worth $80,808,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. Geneos Wealth Management Inc. grew its stake in shares of Cognizant Technology Solutions by 118.8% in the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 309 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth $142,000. Cresset Asset Management LLC raised its stake in shares of Cognizant Technology Solutions by 11.4% in the second quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock valued at $715,000 after acquiring an additional 935 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in Cognizant Technology Solutions by 231.4% in the second quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock valued at $2,315,000 after purchasing an additional 20,716 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTSH shares. Jefferies Financial Group lowered their target price on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Nomura decreased their price objective on 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. Robert W. Baird lowered their price objective on Cognizant Technology Solutions from $72.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Morgan Stanley set a $44.00 target price on shares of Cognizant Technology Solutions and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Finally, Daiwa Securities Group reduced their target price on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, June 24th. Ten 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, the stock has a consensus rating of “Hold” and an average target price of $61.35.

Cognizant Technology Solutions Stock Up 3.5%

Shares of NASDAQ CTSH opened at $47.05 on Tuesday. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. 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 business has a 50-day moving average of $47.05 and a two-hundred day moving average of $59.25. 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 released its quarterly earnings data 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 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 prior year, the firm posted $1.23 EPS. The business’s quarterly revenue 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. On average, analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.70%.

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

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.