VIRGINIA RETIREMENT SYSTEMS ET Al Invests $33.12 Million in Cognizant Technology Solutions Corporation $CTSH

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 855,075 shares of the information technology service provider’s stock, valued at approximately $33,117,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Brighton Jones LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $214,000. Geneos Wealth Management Inc. grew its stake in shares of 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 in the last quarter. Acadian Asset Management LLC acquired a new position in Cognizant Technology Solutions in the first quarter worth approximately $142,000. Cresset Asset Management LLC increased its holdings in Cognizant Technology Solutions by 11.4% in the second 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 during the last quarter. Finally, Jump Financial LLC raised its holdings 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 purchasing an additional 20,716 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CTSH. Citigroup reissued a “neutral” rating and set a $60.00 price objective (up from $45.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Cognizant Technology Solutions in a research note on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Cognizant Technology Solutions from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $62.31 on Tuesday. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $52.97 and its 200 day simple moving average is $54.98. The firm has a market cap of $28.07 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83.

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

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.39%.

Cognizant Technology Solutions declared that its board has initiated a stock buyback program on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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.