Cognizant Technology Solutions Corporation $CTSH is ICICI Prudential Asset Management Co Ltd’s Largest Position

ICICI Prudential Asset Management Co Ltd cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 656,890 shares of the information technology service provider’s stock after selling 22,316 shares during the quarter. Cognizant Technology Solutions comprises 6.4% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its largest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Cognizant Technology Solutions were worth $54,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth about $25,000. Lodestone Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Flagship Harbor Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Physician Wealth Advisors Inc. boosted its position in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after purchasing an additional 213 shares in the last quarter. Finally, Towne Trust Company N.A boosted its position in shares of Cognizant Technology Solutions by 85.0% in the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after purchasing an additional 170 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the topic of a number of analyst reports. Berenberg Bank dropped their price target on Cognizant Technology Solutions from $107.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group set a $75.00 target price on Cognizant Technology Solutions in a report on Wednesday, April 29th. Finally, HSBC dropped their target price on Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.50.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $51.18 on Friday. The company has a market capitalization of $24.25 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.09 and a beta of 0.81. 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 firm has a 50 day moving average of $54.97 and a 200 day moving average of $67.87. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. The company 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 quarterly revenue 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. As a group, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Cognizant Technology Solutions announced that its Board of Directors has authorized a stock buyback plan on Monday, May 18th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.