E. Ohman J or Asset Management AB Has $20.62 Million Stake in Cognizant Technology Solutions Corporation $CTSH

E. Ohman J or Asset Management AB trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 336,161 shares of the information technology service provider’s stock after selling 11,470 shares during the period. E. Ohman J or Asset Management AB owned 0.07% of Cognizant Technology Solutions worth $20,623,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at $28,000. Flagship Harbor Advisors LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth about $28,000. Physician Wealth Advisors Inc. lifted its stake in 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 worth $28,000 after acquiring an additional 213 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $29,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTSH. HSBC dropped their target price on Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Jefferies Financial Group decreased their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 4th. Evercore lowered their price objective on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on shares of Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, Berenberg Bank set a $59.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.50.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $43.70 on Friday. Cognizant Technology Solutions Corporation has a fifty-two week low of $43.40 and a fifty-two week high of $87.03. The stock’s 50-day moving average is $53.35 and its two-hundred day moving average is $66.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $20.71 billion, a P/E ratio of 9.50, a PEG ratio of 0.92 and a beta of 0.81.

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, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. Cognizant Technology Solutions’s payout ratio is 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock buyback program on Monday, May 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.