Pacer Advisors Inc. Sells 245,029 Shares of Cognizant Technology Solutions Corporation $CTSH

Pacer Advisors Inc. cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,942,016 shares of the information technology service provider’s stock after selling 245,029 shares during the period. Pacer Advisors Inc. owned about 0.41% of Cognizant Technology Solutions worth $161,187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $214,000. Geneos Wealth Management Inc. increased its stake in Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 309 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $142,000. Cresset Asset Management LLC lifted its position 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 worth $715,000 after buying an additional 935 shares in the last quarter. Finally, Jump Financial LLC boosted its stake 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 buying an additional 20,716 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 10.5%

CTSH stock opened at $43.70 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.03 and a beta of 0.81. Cognizant Technology Solutions Corporation has a fifty-two week low of $43.40 and a fifty-two week high of $87.03. The stock has a fifty day moving average of $53.70 and a 200-day moving average of $66.91.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were given a $0.33 dividend. 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 28.70%.

Cognizant Technology Solutions announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Guggenheim decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. UBS Group lowered their target price on Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. The Goldman Sachs Group set a $75.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, April 29th. Finally, Citigroup increased their price target on shares of Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.50.

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.