Mediolanum International Funds Ltd Sells 556,980 Shares of Cognizant Technology Solutions Corporation $CTSH

Mediolanum International Funds Ltd trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 80.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 137,887 shares of the information technology service provider’s stock after selling 556,980 shares during the period. Mediolanum International Funds Ltd’s holdings in Cognizant Technology Solutions were worth $8,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CTSH. Evolve Private Wealth LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $2,642,000. OFI Invest Asset Management bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $8,421,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Cognizant Technology Solutions in the first quarter valued at $29,510,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Cognizant Technology Solutions by 34.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock valued at $238,565,000 after purchasing an additional 734,337 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in Cognizant Technology Solutions by 14.9% in the first 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 during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 0.3%

Shares of CTSH opened at $44.64 on Tuesday. 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 cap of $21.15 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.98 and a beta of 0.87. The stock has a fifty day moving average price of $47.37 and a two-hundred day moving average price of $60.60. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the company posted $1.23 earnings per share. The firm’s quarterly revenue 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. Analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved 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 repurchase up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. 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 3.0%. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $44.00 price target on shares of Cognizant Technology Solutions and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. Wells Fargo & Company decreased their target price on shares of Cognizant Technology Solutions from $83.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, July 10th. Weiss Ratings cut shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Evercore dropped their price target on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Finally, Nomura cut their price target on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $64.26.

About Cognizant Technology Solutions

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.