14,090 Shares in Cognizant Technology Solutions Corporation $CTSH Acquired by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. purchased a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,090 shares of the information technology service provider’s stock, valued at approximately $864,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evolve Private Wealth LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter worth about $2,642,000. OFI Invest Asset Management acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $8,421,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cognizant Technology Solutions by 34.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock valued at $238,565,000 after acquiring an additional 734,337 shares during the period. Pzena Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 14.9% in the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after acquiring an additional 2,633,683 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Cognizant Technology Solutions by 44.4% in the 4th quarter. Corient Private Wealth LLC now owns 108,131 shares of the information technology service provider’s stock worth $8,977,000 after purchasing an additional 33,248 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $44.16 on Tuesday. The company’s fifty day moving average is $48.09 and its two-hundred day moving average is $62.04. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. 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 firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.90 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Cognizant Technology Solutions announced that its board has approved a stock buyback plan on Monday, May 18th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to purchase up to 9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTSH shares. Daiwa Securities Group dropped their target price on Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, June 24th. Truist Financial assumed coverage on shares of Cognizant Technology Solutions in a research report on Monday, June 1st. They set a “hold” rating and a $66.00 price objective on the stock. Berenberg Bank set a $59.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Weiss Ratings lowered shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, UBS Group lowered their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.26.

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.