Resona Asset Management Co. Ltd. Reduces Holdings in Cognizant Technology Solutions Corporation $CTSH

Resona Asset Management Co. Ltd. trimmed its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,834 shares of the information technology service provider’s stock after selling 13,779 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $15,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Cognizant Technology Solutions by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock worth $4,047,570,000 after purchasing an additional 493,912 shares during the period. Pzena Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock worth $1,187,868,000 after purchasing an additional 260,177 shares during the period. Invesco Ltd. lifted its position in shares of Cognizant Technology Solutions by 8.6% in the 3rd quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares during the period. First Trust Advisors LP lifted its position in shares of Cognizant Technology Solutions by 7.6% in the 3rd quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock worth $609,398,000 after purchasing an additional 639,801 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cognizant Technology Solutions by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,393,356 shares of the information technology service provider’s stock worth $428,798,000 after purchasing an additional 260,844 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Dbs Bank dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $66.00 in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Wells Fargo & Company lowered their price target on shares of Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group lowered their price target 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. Finally, Citigroup lowered their price target on shares of Cognizant Technology Solutions from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $73.00.

Cognizant Technology Solutions Stock Up 0.8%

NASDAQ:CTSH opened at $51.28 on Thursday. The firm has a market cap of $24.30 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Corporation has a fifty-two week low of $45.48 and a fifty-two week high of $87.03. The firm has a 50-day simple moving average of $57.46 and a two-hundred day simple moving average of $70.09.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Cognizant Technology Solutions announced that its board has authorized a share repurchase plan on Monday, May 18th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.