TD Asset Management Inc Cuts Position in Cognizant Technology Solutions Corporation $CTSH

TD Asset Management Inc reduced its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 349,242 shares of the information technology service provider’s stock after selling 14,166 shares during the period. TD Asset Management Inc’s holdings in Cognizant Technology Solutions were worth $28,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC increased its holdings in shares of Cognizant Technology Solutions by 3.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,852 shares of the information technology service provider’s stock valued at $320,000 after purchasing an additional 127 shares in the last quarter. Unison Advisors LLC grew its position in Cognizant Technology Solutions by 0.5% during the fourth quarter. Unison Advisors LLC now owns 30,095 shares of the information technology service provider’s stock worth $2,498,000 after buying an additional 138 shares during the period. TD Waterhouse Canada Inc. grew its position in Cognizant Technology Solutions by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,130 shares of the information technology service provider’s stock worth $177,000 after buying an additional 143 shares during the period. Security National Bank of SO Dak increased its holdings in Cognizant Technology Solutions by 0.6% in the second 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 buying an additional 150 shares in the last quarter. Finally, Haven Private LLC lifted its position in shares of Cognizant Technology Solutions by 1.9% during the 3rd quarter. Haven Private LLC now owns 8,451 shares of the information technology service provider’s stock valued at $567,000 after acquiring an additional 157 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTSH has been the topic of a number of research reports. UBS Group lowered their price target on Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Weiss Ratings cut Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Truist Financial initiated coverage on Cognizant Technology Solutions in a report on Monday, June 1st. They issued a “hold” rating and a $66.00 target price on the stock. Mizuho dropped their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “hold” rating and set a $62.00 price target (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.68.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $53.21 on Monday. Cognizant Technology Solutions Corporation has a fifty-two week low of $45.48 and a fifty-two week high of $87.03. The company has a market capitalization of $25.21 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.81. The stock has a fifty day moving average of $55.65 and a two-hundred day moving average of $68.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.70%.

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