Geode Capital Management LLC Cuts Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Geode Capital Management LLC trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,353,281 shares of the information technology service provider’s stock after selling 44,874 shares during the quarter. Geode Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $1,190,014,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $4,422,000. Alps Advisors Inc. increased 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 acquiring an additional 43,252 shares in the last quarter. Arjuna Capital increased its holdings in Cognizant Technology Solutions by 62.6% in the 3rd quarter. Arjuna Capital now owns 24,622 shares of the information technology service provider’s stock worth $1,651,000 after acquiring an additional 9,482 shares in the last quarter. National Pension Service increased its holdings in Cognizant Technology Solutions by 5.5% in the 3rd quarter. National Pension Service now owns 863,720 shares of the information technology service provider’s stock worth $57,930,000 after acquiring an additional 45,016 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth $55,217,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent analyst reports. UBS Group cut their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Mizuho cut their price target on shares of Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. The Goldman Sachs Group set a $75.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, April 29th. Jefferies Financial Group cut their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Citigroup cut their price target on shares of Cognizant Technology Solutions from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.00.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $55.76 on Friday. Cognizant Technology Solutions Corporation has a 52-week low of $45.48 and a 52-week high of $87.03. The firm has a market capitalization of $26.42 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.13 and a beta of 0.81. The company has a fifty day simple moving average of $56.31 and a 200-day simple moving average of $69.14. 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 released its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has initiated a share buyback program on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

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. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.4%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

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.