17,125 Shares in Cognizant Technology Solutions Corporation $CTSH Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the second quarter, HoldingsChannel reports. The institutional investor acquired 17,125 shares of the information technology service provider’s stock, valued at approximately $659,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth about $214,000. Geneos Wealth Management Inc. increased its stake in Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 309 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Cognizant Technology Solutions in the first quarter worth about $142,000. Cresset Asset Management LLC raised 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 lifted its stake in shares of Cognizant Technology Solutions by 231.4% in the second quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock worth $2,315,000 after buying an additional 20,716 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $57.78 on Wednesday. The firm has a 50 day moving average of $48.09 and a 200 day moving average of $56.08. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 12-month low of $37.08 and a 12-month high of $87.03.

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 the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, research analysts anticipate that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has approved a share repurchase program on Monday, May 18th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 2.3%. Cognizant Technology Solutions’s payout ratio is 28.39%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Dbs Bank cut their target price on Cognizant Technology Solutions from $80.00 to $66.00 in a research note on Thursday, May 7th. BMO Capital Markets decreased their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Royal Bank Of Canada set a $55.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, July 24th. The Goldman Sachs Group set a $75.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, April 29th. Finally, Daiwa Securities Group reduced their price target on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, June 24th. Ten investment 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

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.