Dymon Asia Capital Singapore PTE. LTD. Grows Stake in Cognizant Technology Solutions Corporation $CTSH

Dymon Asia Capital Singapore PTE. LTD. increased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 65.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 113,976 shares of the information technology service provider’s stock after acquiring an additional 45,081 shares during the period. Cognizant Technology Solutions accounts for about 0.9% of Dymon Asia Capital Singapore PTE. LTD.’s holdings, making the stock its 10th biggest holding. Dymon Asia Capital Singapore PTE. LTD.’s holdings in Cognizant Technology Solutions were worth $9,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTSH. Norges Bank bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $690,959,000. GQG Partners LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $673,651,000. CIBC Bancorp USA Inc. bought a new stake in Cognizant Technology Solutions during the third quarter worth about $201,834,000. Cibc World Markets Corp bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $234,671,000. Finally, Voloridge Investment Management LLC raised its holdings in Cognizant Technology Solutions by 801.4% during the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock worth $141,134,000 after acquiring an additional 1,870,834 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial began coverage on Cognizant Technology Solutions in a report on Monday, June 1st. They set a “hold” rating and a $66.00 target price on the stock. Evercore dropped their price objective on Cognizant Technology Solutions from $100.00 to $70.00 in a research note on Thursday, April 30th. BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Finally, HSBC dropped their price objective on Cognizant Technology Solutions from $98.00 to $80.00 in a research note on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.50.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $52.17 on Friday. Cognizant Technology Solutions Corporation has a 12 month low of $45.48 and a 12 month high of $87.03. The stock’s 50 day moving average is $54.79 and its 200-day moving average is $67.76. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.10 and a beta of 0.81.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback program on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.