OP Asset Management Ltd Takes Position in Cognizant Technology Solutions Corporation $CTSH

OP Asset Management Ltd purchased a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 79,000 shares of the information technology service provider’s stock, valued at approximately $4,847,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. Geneos Wealth Management Inc. lifted its holdings in Cognizant Technology Solutions by 118.8% in the first 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 period. Acadian Asset Management LLC bought a new position in Cognizant Technology Solutions in the first quarter valued at approximately $142,000. Cresset Asset Management LLC grew its holdings in 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 acquiring an additional 935 shares during the period. Finally, Jump Financial LLC raised its position in shares of Cognizant Technology Solutions by 231.4% during the 2nd quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock valued at $2,315,000 after acquiring an additional 20,716 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTSH. Wells Fargo & Company cut their price target on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Nomura lifted their price target on shares of Cognizant Technology Solutions from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Citigroup boosted their price target on shares of Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Morgan Stanley set a $44.00 price objective on Cognizant Technology Solutions and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Berenberg Bank set a $59.00 target price on Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Wednesday, June 17th. Ten equities 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, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $69.70.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $40.03 on Friday. The firm’s 50 day moving average is $51.46 and its 200-day moving average is $65.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $18.97 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 12-month low of $38.97 and a 12-month high of $87.03.

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 for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid 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 3.3%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.70%.

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

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.