Pictet Asset Management Holding SA Cuts Stake in Cognizant Technology Solutions Corporation $CTSH

Pictet Asset Management Holding SA reduced its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,298,864 shares of the information technology service provider’s stock after selling 154,297 shares during the period. Pictet Asset Management Holding SA’s holdings in Cognizant Technology Solutions were worth $79,681,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its position in Cognizant Technology Solutions by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,852 shares of the information technology service provider’s stock valued at $320,000 after purchasing an additional 127 shares during the period. Unison Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 0.5% during the fourth quarter. Unison Advisors LLC now owns 30,095 shares of the information technology service provider’s stock valued at $2,498,000 after purchasing an additional 138 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Cognizant Technology Solutions by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,130 shares of the information technology service provider’s stock valued at $177,000 after purchasing an additional 143 shares in the last quarter. Security National Bank of SO Dak increased its holdings in Cognizant Technology Solutions by 0.6% during the second quarter. Security National Bank of SO Dak now owns 24,635 shares of the information technology service provider’s stock valued at $1,922,000 after buying an additional 150 shares during the period. Finally, Cidel Asset Management Inc. raised its stake in Cognizant Technology Solutions by 3.0% in the fourth quarter. Cidel Asset Management Inc. now owns 5,535 shares of the information technology service provider’s stock worth $459,000 after buying an additional 163 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTSH has been the topic of several recent research reports. HSBC dropped their target price on Cognizant Technology Solutions from $98.00 to $80.00 in a research report on Thursday, April 30th. Susquehanna decreased their price objective on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research note on Friday, May 1st. Robert W. Baird set a $72.00 target price on Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Friday, April 10th. BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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 investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.70.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $38.74 on Tuesday. Cognizant Technology Solutions Corporation has a 12-month low of $38.68 and a 12-month high of $87.03. The business’s fifty day simple moving average is $51.02 and its 200-day simple moving average is $65.00. 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 cap of $18.36 billion, a PE ratio of 8.42, a PEG ratio of 0.84 and a beta of 0.81.

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. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the firm earned $1.23 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. Cognizant Technology Solutions’s payout ratio is presently 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock buyback plan 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is 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.