Cognizant Technology Solutions Corporation $CTSH Shares Sold by ING Groep NV

ING Groep NV cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 28.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,732,543 shares of the information technology service provider’s stock after selling 681,655 shares during the period. Cognizant Technology Solutions accounts for approximately 0.9% of ING Groep NV’s portfolio, making the stock its 23rd biggest holding. ING Groep NV’s holdings in Cognizant Technology Solutions were worth $143,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Physician Wealth Advisors Inc. boosted its position in shares of Cognizant Technology Solutions by 165.1% during the fourth quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after buying an additional 213 shares during the period. Finally, Towne Trust Company N.A lifted its position in Cognizant Technology Solutions by 85.0% in the fourth 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 during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTSH. Susquehanna cut their target price on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research report on Friday, May 1st. Evercore cut their target price on Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Robert W. Baird set a $72.00 target price on Cognizant Technology Solutions and gave the stock a “neutral” rating in a research report on Friday, April 10th. UBS Group cut their target price on Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. cut their target price on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $72.68.

Cognizant Technology Solutions Stock Performance

CTSH opened at $53.21 on Friday. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Corporation has a 1-year low of $45.48 and a 1-year high of $87.03. The business has a 50 day moving average price of $55.65 and a two-hundred day moving average price of $68.48.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS 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 the consensus estimate of $5.41 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’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. Research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.70%.

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.