KBC Group NV Reduces Stock Position in Cognizant Technology Solutions Corporation $CTSH

KBC Group NV trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 63.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,494 shares of the information technology service provider’s stock after selling 504,295 shares during the period. KBC Group NV owned about 0.06% of Cognizant Technology Solutions worth $17,699,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at approximately $214,000. Geneos Wealth Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 118.8% in the 1st 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 bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at $142,000. Cresset Asset Management LLC boosted its position 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 buying an additional 935 shares during the last quarter. Finally, Jump Financial LLC boosted its position 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 buying an additional 20,716 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the topic of several research analyst reports. TD Cowen lowered their target price on shares of Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Guggenheim lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Jefferies Financial Group cut their target price on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Robert W. Baird decreased their target price on shares of Cognizant Technology Solutions from $72.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Mizuho dropped their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.26.

Cognizant Technology Solutions Stock Performance

CTSH opened at $43.63 on Wednesday. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $20.67 billion, a P/E ratio of 9.48, a PEG ratio of 0.98 and a beta of 0.87. The company has a 50 day simple moving average of $47.29 and a two-hundred day simple moving average of $60.32.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period last year, the company posted $1.23 earnings per share. Cognizant Technology Solutions’s quarterly revenue 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 analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase program on Monday, May 18th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

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

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.