SG Americas Securities LLC Trims Stake in Cognizant Technology Solutions Corporation $CTSH

SG Americas Securities LLC cut its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 81.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,331 shares of the information technology service provider’s stock after selling 704,284 shares during the quarter. SG Americas Securities LLC’s holdings in Cognizant Technology Solutions were worth $9,959,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTSH. Flagship Harbor Advisors LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Physician Wealth Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after acquiring an additional 213 shares during the period. Lodestone Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $28,000. Prosperity Bancshares Inc purchased a new position in Cognizant Technology Solutions during the 4th quarter worth $29,000. Finally, Towne Trust Company N.A raised its holdings in shares of 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 valued at $31,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTSH. Berenberg Bank set a $59.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Jefferies Financial Group reduced their price objective on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $70.00 in a research report on Monday, June 8th. Wells Fargo & Company dropped their target price on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley set a $44.00 price target on Cognizant Technology Solutions and gave the stock an “equal weight” rating in a research note on Tuesday. 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.com, the company has a consensus rating of “Hold” and a consensus price target of $69.70.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $40.03 on Friday. The firm has a market capitalization of $18.97 billion, a PE ratio of 8.70, a P/E/G ratio of 0.82 and a beta of 0.81. The stock’s 50 day moving average is $51.46 and its two-hundred day moving average is $65.41. Cognizant Technology Solutions Corporation has a twelve month low of $38.97 and a twelve month high of $87.03. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period last 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 anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business 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 of this dividend was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.3%. Cognizant Technology Solutions’s dividend payout ratio is 28.70%.

Cognizant Technology Solutions announced that its board has approved a share repurchase program on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.