ICICI Prudential Asset Management Co Ltd Has $45.55 Million Holdings in Cognizant Technology Solutions Corporation $CTSH

ICICI Prudential Asset Management Co Ltd lowered its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 679,206 shares of the information technology service provider’s stock after selling 80,032 shares during the period. Cognizant Technology Solutions accounts for 4.8% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 3rd biggest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Cognizant Technology Solutions were worth $45,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after acquiring an additional 157,427 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Cognizant Technology Solutions in the third quarter worth about $4,422,000. Thrivent Financial for Lutherans raised its position in shares of Cognizant Technology Solutions by 60.9% in the second quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock valued at $3,079,000 after purchasing an additional 14,946 shares during the period. Summit Global Investments lifted its stake in shares of Cognizant Technology Solutions by 245.1% during the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after buying an additional 25,276 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 16.5% in the 3rd quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock worth $20,529,000 after buying an additional 43,252 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTSH. Royal Bank Of Canada boosted their target price on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $98.00 price target (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Weiss Ratings upgraded Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $84.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.17.

Cognizant Technology Solutions Stock Down 2.7%

Shares of NASDAQ CTSH opened at $64.99 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $80.73 and a 200-day moving average of $74.61. The firm has a market capitalization of $31.37 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.45 and a beta of 0.95. Cognizant Technology Solutions Corporation has a 12 month low of $63.83 and a 12 month high of $88.13.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $1.21 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 4.9% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Wednesday, February 18th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.0%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 29.01%.

Insider Transactions at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.52, for a total transaction of $584,640.00. Following the transaction, the director directly owned 47,729 shares in the company, valued at approximately $3,986,326.08. This represents a 12.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ravi Kumar Singisetti sold 3,125 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.01, for a total value of $250,031.25. Following the completion of the sale, the chief executive officer owned 75,454 shares of the company’s stock, valued at $6,037,074.54. The trade was a 3.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,434 shares of company stock worth $2,460,809 in the last three months. Insiders own 0.32% of the company’s stock.

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.