Vestcor Inc Grows Stake in Cognizant Technology Solutions Corporation $CTSH

Vestcor Inc boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 73.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,491 shares of the information technology service provider’s stock after purchasing an additional 10,792 shares during the quarter. Vestcor Inc’s holdings in Cognizant Technology Solutions were worth $2,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 worth $4,047,570,000 after purchasing an additional 493,912 shares during the period. Pzena Investment Management LLC increased its holdings in Cognizant Technology Solutions by 1.5% during the 3rd 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 purchasing an additional 260,177 shares during the period. Invesco Ltd. increased its holdings in Cognizant Technology Solutions by 8.6% during the 3rd quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares during the period. First Trust Advisors LP increased its holdings in Cognizant Technology Solutions by 7.6% during the 3rd quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock worth $609,398,000 after purchasing an additional 639,801 shares during the period. Finally, Norges Bank purchased a new position in Cognizant Technology Solutions during the 4th quarter worth $690,959,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $53.21 on Monday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $25.21 billion, a PE ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 12-month low of $45.48 and a 12-month high of $87.03. The business’s fifty day simple moving average is $55.65 and its 200-day simple moving average is $68.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Cognizant Technology Solutions announced that its board has authorized a share buyback program on Monday, May 18th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on CTSH. Weiss Ratings downgraded Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. HSBC reduced their price objective on Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Nomura lifted their price target on Cognizant Technology Solutions from $92.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group cut their price target on Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Finally, Berenberg Bank cut their price target on Cognizant Technology Solutions from $107.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.68.

Cognizant Technology Solutions 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.