Cognizant Technology Solutions Corporation $CTSH Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 95.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 211,764 shares of the information technology service provider’s stock after selling 4,639,888 shares during the quarter. Wellington Management Group LLP’s holdings in Cognizant Technology Solutions were worth $8,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CTSH. Security National Bank of SO Dak boosted its holdings in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. Security National Bank of SO Dak now owns 24,635 shares of the information technology service provider’s stock valued at $1,922,000 after acquiring an additional 150 shares during the last quarter. Advisory Alpha LLC lifted its position in Cognizant Technology Solutions by 2.8% during the fourth quarter. Advisory Alpha LLC now owns 5,987 shares of the information technology service provider’s stock valued at $497,000 after purchasing an additional 163 shares during the period. Quarry LP boosted its holdings in Cognizant Technology Solutions by 23.9% in the fourth quarter. Quarry LP now owns 844 shares of the information technology service provider’s stock valued at $70,000 after purchasing an additional 163 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Cognizant Technology Solutions by 26.8% in the fourth quarter. Root Financial Partners LLC now owns 780 shares of the information technology service provider’s stock valued at $65,000 after purchasing an additional 165 shares during the last quarter. Finally, WealthCollab LLC grew its position in Cognizant Technology Solutions by 37.1% during the 3rd quarter. WealthCollab LLC now owns 643 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 174 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HSBC reduced their price objective on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Nomura dropped their target price on Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wedbush upgraded Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $70.00 in a research report on Monday, June 8th. Mizuho set a $64.00 price objective on Cognizant Technology Solutions in a research report on Thursday, August 6th. Finally, Morgan Stanley reaffirmed a “negative” rating and set a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $63.00.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $59.92 on Wednesday. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.16 and a beta of 0.83. The stock has a 50-day moving average of $53.39 and a 200 day moving average of $54.93. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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 business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.48 billion. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 5.71 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.39%.

Cognizant Technology Solutions declared that its board 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 reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often 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.