Resona Asset Management Co. Ltd. Lowers Holdings in Cognizant Technology Solutions Corporation $CTSH

Resona Asset Management Co. Ltd. decreased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,834 shares of the information technology service provider’s stock after selling 13,779 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $15,476,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $4,422,000. Alps Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 16.5% in the 3rd quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock worth $20,529,000 after buying an additional 43,252 shares during the last quarter. Arjuna Capital increased its holdings in shares of Cognizant Technology Solutions by 62.6% in the 3rd quarter. Arjuna Capital now owns 24,622 shares of the information technology service provider’s stock worth $1,651,000 after buying an additional 9,482 shares during the last quarter. National Pension Service increased its holdings in shares of Cognizant Technology Solutions by 5.5% in the 3rd quarter. National Pension Service now owns 863,720 shares of the information technology service provider’s stock worth $57,930,000 after buying an additional 45,016 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cognizant Technology Solutions by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 193,464 shares of the information technology service provider’s stock worth $12,976,000 after buying an additional 19,177 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $51.28 on Thursday. The firm has a market cap of $24.30 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.07 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 company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $57.46 and its two-hundred day simple moving average is $70.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The company’s 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 analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions announced that its board has approved a stock buyback program 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 purchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTSH shares. Royal Bank Of Canada increased their price target 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. Weiss Ratings lowered shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, January 26th. Jefferies Financial Group reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Finally, Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.00.

Cognizant Technology Solutions Company 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.