New York State Teachers Retirement System Purchases 19,606 Shares of Cognizant Technology Solutions Corporation $CTSH

New York State Teachers Retirement System boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 477,554 shares of the information technology service provider’s stock after buying an additional 19,606 shares during the quarter. New York State Teachers Retirement System’s holdings in Cognizant Technology Solutions were worth $29,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CTSH. Norges Bank purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $690,959,000. GQG Partners LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $673,651,000. CIBC Bancorp USA Inc. bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $201,834,000. Cibc World Markets Corp bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $234,671,000. Finally, Pzena Investment Management LLC lifted its stake in 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 worth $1,243,096,000 after purchasing an additional 2,633,683 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $41.99 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. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The company has a fifty day moving average of $49.48 and a 200-day moving average of $63.94. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions declared that its board has initiated a stock repurchase 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 purchase up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on CTSH shares. 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. Wells Fargo & Company decreased their price target on shares of Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $70.00 in a research note on Monday, June 8th. Finally, The Goldman Sachs Group set a $75.00 target price on Cognizant Technology Solutions in a research report on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $68.35.

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.