Cognizant Technology Solutions Corporation $CTSH Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 925.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,652,358 shares of the information technology service provider’s stock after acquiring an additional 3,296,205 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cognizant Technology Solutions were worth $141,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth $25,000. Flagship Harbor Advisors LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Physician Wealth Advisors Inc. boosted 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 valued at $28,000 after buying an additional 213 shares in the last quarter. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $29,000. Finally, Towne Trust Company N.A raised its position in Cognizant Technology Solutions by 85.0% in the fourth quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada set a $55.00 price target on shares of Cognizant Technology Solutions in a report on Friday, July 24th. Truist Financial started coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 1st. They issued a “hold” rating and a $66.00 price objective on the stock. Citigroup reiterated a “neutral” rating and issued a $60.00 target price (up from $45.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. UBS Group cut their target price on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $56.89 on Friday. The stock’s 50-day moving average price is $47.46 and its two-hundred day moving average price is $57.55. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The company has a market cap of $26.96 billion, a PE ratio of 12.23, a PEG ratio of 1.12 and a beta of 0.82. 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 earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.3%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.39%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 18th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.