Cognizant Technology Solutions (NASDAQ:CTSH) Hits New 12-Month Low – Here’s What Happened

Cognizant Technology Solutions Corporation (NASDAQ:CTSH)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $58.87 and last traded at $59.67, with a volume of 1709396 shares trading hands. The stock had previously closed at $60.24.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTSH. Citigroup reiterated a “neutral” rating and set a $86.00 price target (up from $75.00) on shares of Cognizant Technology Solutions in a research report on Thursday, January 22nd. Weiss Ratings lowered shares of Cognizant Technology Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Susquehanna reaffirmed a “positive” rating and set a $98.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 23rd. Guggenheim reiterated a “buy” rating and set a $100.00 target price (up from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 price target (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.78.

Cognizant Technology Solutions Trading Down 0.5%

The business has a 50 day simple moving average of $70.82 and a 200-day simple moving average of $73.34. The stock has a market capitalization of $28.67 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 2.14.

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

Cognizant Technology Solutions Increases Dividend

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

Insider Buying and Selling at Cognizant Technology Solutions

In related news, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total value of $143,527.68. Following the completion of the transaction, the insider directly owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total value of $168,460.00. Following the transaction, the director owned 29,729 shares of the company’s stock, valued at approximately $2,504,073.67. This trade represents a 6.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,859 shares of company stock worth $575,460 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently bought and sold shares of the company. State Street Corp lifted 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 buying an additional 157,427 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $4,422,000. Thrivent Financial for Lutherans increased its position 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 acquiring an additional 14,946 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 16.5% in 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 acquiring an additional 43,252 shares during the last quarter. Finally, Amundi raised its holdings in Cognizant Technology Solutions by 5.2% during the second quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock worth $381,135,000 after acquiring an additional 235,432 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.