Livforsakringsbolaget Skandia Omsesidigt Sells 19,400 Shares of Cognizant Technology Solutions Corporation $CTSH

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,690 shares of the information technology service provider’s stock after selling 19,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cognizant Technology Solutions were worth $8,198,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CTSH. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $214,000. Geneos Wealth Management Inc. increased its position in shares of Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $142,000. Cresset Asset Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 11.4% during the 2nd quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock valued at $715,000 after purchasing an additional 935 shares during the last quarter. Finally, Jump Financial LLC boosted its position in shares of Cognizant Technology Solutions by 231.4% in the 2nd quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock worth $2,315,000 after purchasing an additional 20,716 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 2.6%

Shares of CTSH opened at $43.03 on Wednesday. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.93 and a beta of 0.87. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03. The stock’s 50-day moving average price is $47.91 and its 200-day moving average price is $61.74. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share repurchase program on Monday, May 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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 given a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTSH shares. UBS Group dropped their target price on Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Citigroup lowered their price target on Cognizant Technology Solutions from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Monday. Dbs Bank dropped their price target on Cognizant Technology Solutions from $80.00 to $66.00 in a research note on Thursday, May 7th. BMO Capital Markets cut their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Finally, TD Cowen decreased their price objective on shares of Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating for the company in a research report on Friday, June 26th. Eleven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $64.26.

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.