Cognizant Technology Solutions Corporation $CTSH Shares Sold by Trinity Street Asset Management LLP

Trinity Street Asset Management LLP lowered its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,959 shares of the information technology service provider’s stock after selling 14,473 shares during the period. Cognizant Technology Solutions accounts for 0.6% of Trinity Street Asset Management LLP’s holdings, making the stock its 22nd biggest position. Trinity Street Asset Management LLP owned 0.07% of Cognizant Technology Solutions worth $12,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. JPL Wealth Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $28,000. Physician Wealth Advisors Inc. raised its holdings in shares of Cognizant Technology Solutions by 165.1% during the fourth quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $29,000. Finally, Towne Trust Company N.A lifted its position in Cognizant Technology Solutions by 85.0% during 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 purchasing an additional 170 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CTSH. Guggenheim reaffirmed a “buy” rating and set a $65.00 price target (down from $80.00) on shares of Cognizant Technology Solutions in a research report on Monday, July 27th. Citigroup reissued a “neutral” rating and issued a $60.00 price objective (up from $45.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Jefferies Financial Group lowered their target price on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Dbs Bank dropped their target price on Cognizant Technology Solutions from $80.00 to $66.00 in a report on Thursday, May 7th. Finally, Robert W. Baird set a $68.00 price target on Cognizant Technology Solutions in a research report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.00.

Cognizant Technology Solutions Stock Down 0.7%

CTSH opened at $58.20 on Thursday. The company has a fifty day moving average of $47.69 and a two-hundred day moving average of $56.83. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.17 and a beta of 0.82. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, research analysts expect that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share repurchase plan 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 buy up to 9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. Cognizant Technology Solutions’s payout ratio is 28.39%.

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.