CIBC Bancorp USA Inc. Takes Position in Cognizant Technology Solutions Corporation $CTSH

CIBC Bancorp USA Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,009,306 shares of the information technology service provider’s stock, valued at approximately $201,834,000. Cognizant Technology Solutions makes up approximately 0.7% of CIBC Bancorp USA Inc.’s investment portfolio, making the stock its 24th largest position. CIBC Bancorp USA Inc. owned about 0.62% of Cognizant Technology Solutions as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CTSH. Vanguard Group Inc. grew its holdings in Cognizant Technology Solutions by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock valued at $4,047,570,000 after buying an additional 493,912 shares during the last quarter. State Street Corp raised its holdings in shares of Cognizant Technology Solutions by 0.6% in the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after acquiring an additional 157,427 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions by 1.5% in the third quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock worth $1,187,868,000 after acquiring an additional 260,177 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cognizant Technology Solutions by 8.6% in the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock valued at $840,669,000 after acquiring an additional 987,395 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Cognizant Technology Solutions by 7.6% in the third quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock valued at $609,398,000 after acquiring an additional 639,801 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 2,950 shares of Cognizant Technology Solutions stock in a transaction on Friday, December 19th. The shares were sold at an average price of $85.06, for a total value of $250,927.00. Following the transaction, the chief executive officer owned 75,209 shares in the company, valued at $6,397,277.54. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total value of $143,527.68. Following the sale, the insider owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,809 shares of company stock worth $1,423,037. 0.32% of the stock is owned by company insiders.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $61.32 on Wednesday. The stock has a fifty day moving average price of $73.20 and a 200 day moving average price of $73.72. Cognizant Technology Solutions Corporation has a 52 week low of $60.03 and a 52 week high of $87.03. The firm has a market capitalization of $29.33 billion, a P/E ratio of 13.48, a PEG ratio of 1.32 and a beta of 1.00. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were given a $0.33 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is 29.01%.

Analyst Ratings Changes

CTSH has been the subject of a number of recent research reports. Guggenheim reiterated a “buy” rating and set a $100.00 price objective (up from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th. Argus upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, February 10th. Berenberg Bank set a $107.00 price target on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Susquehanna reiterated a “positive” rating and set a $98.00 price target on shares of Cognizant Technology Solutions in a report on Friday, January 23rd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.78.

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.