Prudential PLC Boosts Stake in Cognizant Technology Solutions Corporation $CTSH

Prudential PLC raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 250.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,463 shares of the information technology service provider’s stock after purchasing an additional 132,544 shares during the quarter. Prudential PLC’s holdings in Cognizant Technology Solutions were worth $15,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 raised its position in 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. raised its position in 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 raised its position in 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, Norges Bank purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth about $690,959,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $53.21 on Friday. The firm has a market cap of $25.21 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.13 and a beta of 0.81. The firm’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $68.48. Cognizant Technology Solutions Corporation has a one year low of $45.48 and a one year high of $87.03. 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 (NASDAQ:CTSH) last issued its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion for 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%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid 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 dividend yield of 2.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Analyst Ratings Changes

CTSH has been the topic of a number of recent analyst reports. Wedbush reduced their price objective on shares of Cognizant Technology Solutions from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Dbs Bank reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $66.00 in a research report on Thursday, May 7th. Citigroup reduced their price objective on shares of Cognizant Technology Solutions from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $72.00 target price on shares of Cognizant Technology Solutions and gave the stock a “neutral” rating in a research report on Friday, April 10th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $72.68.

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.