E. Ohman J or Asset Management AB Sells 324,200 Shares of Cognizant Technology Solutions Corporation $CTSH

E. Ohman J or Asset Management AB reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 96.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,961 shares of the information technology service provider’s stock after selling 324,200 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Cognizant Technology Solutions were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Evolve Private Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $2,642,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at $29,510,000. Pzena Investment Management LLC boosted its stake in Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after acquiring an additional 2,633,683 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cognizant Technology Solutions by 34.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock valued at $238,565,000 after buying an additional 734,337 shares during the period. Finally, Corient Private Wealth LLC grew its stake in Cognizant Technology Solutions by 44.4% in the fourth quarter. Corient Private Wealth LLC now owns 108,131 shares of the information technology service provider’s stock valued at $8,977,000 after acquiring an additional 33,248 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $58.20 on Thursday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The stock has a market cap of $26.22 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The stock’s fifty day simple moving average is $47.69 and its two-hundred day simple moving average is $56.83. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03.

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). The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, analysts forecast that Cognizant Technology Solutions Corporation will post 5.71 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Cognizant Technology Solutions announced that its Board of Directors has approved a share buyback plan on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTSH. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research report on Thursday, July 30th. Berenberg Bank set a $59.00 price target on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Wednesday, June 17th. HSBC lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Mizuho set a $64.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, August 6th. Finally, Citigroup reissued a “neutral” rating and set a $60.00 target price (up from $45.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

Cognizant Technology Solutions 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.