Causeway Capital Management LLC Increases Stock Position in Cognizant Technology Solutions Corporation $CTSH

Causeway Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,350,178 shares of the information technology service provider’s stock after purchasing an additional 168,820 shares during the period. Cognizant Technology Solutions makes up about 1.2% of Causeway Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Causeway Capital Management LLC owned 0.28% of Cognizant Technology Solutions worth $90,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 0.8% during the third 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 purchasing an additional 493,912 shares in the last quarter. State Street Corp increased its holdings in Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after buying an additional 157,427 shares in the last quarter. Pzena Investment Management LLC raised its position in Cognizant Technology Solutions by 1.5% in 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 buying an additional 260,177 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cognizant Technology Solutions by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock valued at $1,091,391,000 after acquiring an additional 206,532 shares during the period. Finally, First Trust Advisors LP lifted its stake 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 valued at $609,398,000 after acquiring an additional 639,801 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 2.4%

CTSH opened at $64.65 on Tuesday. The firm’s 50 day simple moving average is $75.76 and its two-hundred day simple moving average is $74.16. The company has a market capitalization of $30.92 billion, a PE ratio of 14.21, a PEG ratio of 1.44 and a beta of 1.00. Cognizant Technology Solutions Corporation has a 1-year low of $60.03 and a 1-year high of $87.03. 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 announced its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.Cognizant Technology Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 29.01%.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 2,950 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the transaction, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at approximately $6,397,277.54. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 25,641 shares of the company’s stock, valued at $2,129,741.46. The trade was a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,809 shares of company stock worth $2,010,778 in the last three months. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $98.00 price target (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Royal Bank Of Canada raised their target price on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Susquehanna reaffirmed a “positive” rating and issued a $98.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Morgan Stanley increased their price target on Cognizant Technology Solutions from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $90.17.

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.