Foster & Motley Inc. Takes $2.46 Million Position in Cognizant Technology Solutions Corporation $CTSH

Foster & Motley Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 63,576 shares of the information technology service provider’s stock, valued at approximately $2,462,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $690,959,000. GQG Partners LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $673,651,000. Assenagon Asset Management S.A. lifted its holdings in Cognizant Technology Solutions by 925.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock worth $141,456,000 after buying an additional 3,296,205 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $234,671,000. Finally, Pzena Investment Management LLC increased its holdings 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 during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $57.78 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03. The stock has a 50 day moving average of $48.09 and a two-hundred day moving average of $56.08. The stock has a market cap of $26.03 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.18 and a beta of 0.81.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, research analysts forecast that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has initiated a share 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 buy up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTSH. Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $70.00 in a research report on Monday, June 8th. The Goldman Sachs Group set a $75.00 price target on Cognizant Technology Solutions in a report on Wednesday, April 29th. Daiwa Securities Group dropped their price target on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. HSBC cut their price objective on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, Citigroup restated a “neutral” rating and issued a $60.00 target price (up from $45.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.00.

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.