SEB Asset Management AB Makes New $16.89 Million Investment in Cognizant Technology Solutions Corporation $CTSH

SEB Asset Management AB bought a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 275,227 shares of the information technology service provider’s stock, valued at approximately $16,885,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $214,000. Geneos Wealth Management Inc. lifted its position in shares of Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth approximately $142,000. Cresset Asset Management LLC grew its stake in shares of Cognizant Technology Solutions by 11.4% during the second quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock valued at $715,000 after purchasing an additional 935 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Cognizant Technology Solutions by 231.4% during the second quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock valued at $2,315,000 after purchasing an additional 20,716 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $44.64 on Tuesday. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. 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 firm has a market cap of $21.15 billion, a PE ratio of 9.70, a P/E/G ratio of 0.98 and a beta of 0.87. The business’s 50-day moving average price is $47.37 and its two-hundred day moving average price is $60.60.

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

Cognizant Technology Solutions declared that its Board of Directors has authorized a share buyback plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Analyst Ratings Changes

CTSH has been the subject of several research analyst reports. Mizuho dropped their price objective on shares of Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. BMO Capital Markets decreased their price objective on Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. lowered their target price on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on Cognizant Technology Solutions in a research report on Friday, July 10th. Finally, The Goldman Sachs Group set a $75.00 price target on Cognizant Technology Solutions in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.26.

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.