Cognizant Technology Solutions Corporation $CTSH Stock Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 18.2% during the third quarter, Holdings Channel reports. The fund owned 1,580,317 shares of the information technology service provider’s stock after selling 351,436 shares during the quarter. California Public Employees Retirement System’s holdings in Cognizant Technology Solutions were worth $105,992,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Cognizant Technology Solutions by 0.6% during the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after purchasing an additional 157,427 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at $4,422,000. Thrivent Financial for Lutherans lifted its holdings in shares of Cognizant Technology Solutions by 60.9% in the second quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock valued at $3,079,000 after purchasing an additional 14,946 shares in the last quarter. Summit Global Investments boosted its position in shares of Cognizant Technology Solutions by 245.1% in the second quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock worth $2,777,000 after buying an additional 25,276 shares during the period. Finally, Alps Advisors Inc. grew its holdings in shares of Cognizant Technology Solutions by 16.5% during the third quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock valued at $20,529,000 after buying an additional 43,252 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CTSH shares. Argus raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, February 10th. Berenberg Bank set a $107.00 price objective on Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Mizuho set a $87.00 target price on Cognizant Technology Solutions in a research note on Monday, February 9th. TD Cowen dropped their target price on Cognizant Technology Solutions from $85.00 to $71.00 and set a “hold” rating on the stock in a report on Friday. Finally, Wells Fargo & Company restated an “overweight” rating and set a $98.00 price target (up from $87.00) on shares of Cognizant Technology Solutions in a report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $88.78.

Insider Buying and Selling

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $85.30, for a total value of $341,200.00. Following the completion of the sale, the director directly owned 37,729 shares of the company’s stock, valued at $3,218,283.70. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Surya Gummadi sold 1,728 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total transaction of $143,527.68. Following the transaction, the insider owned 25,641 shares in the company, valued at approximately $2,129,741.46. This trade represents a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,678 shares of company stock worth $1,415,075. Insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $61.05 on Tuesday. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.31 and a beta of 1.00. Cognizant Technology Solutions Corporation has a 1 year low of $60.03 and a 1 year high of $87.03. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $73.66 and a 200 day simple moving average of $73.79.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 29.01%.

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.