E. Ohman J or Asset Management AB Has $20.62 Million Holdings in Cognizant Technology Solutions Corporation $CTSH

E. Ohman J or Asset Management AB lessened its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 336,161 shares of the information technology service provider’s stock after selling 11,470 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cognizant Technology Solutions were worth $20,623,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTSH. Invesco Ltd. lifted its holdings 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 last quarter. First Trust Advisors LP boosted its position in Cognizant Technology Solutions by 7.6% during the third 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. Norges Bank acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $690,959,000. GQG Partners LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $673,651,000. Finally, FIL Ltd raised its position in shares of Cognizant Technology Solutions by 46.6% in the fourth quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock valued at $554,482,000 after purchasing an additional 2,122,600 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CTSH shares. Citigroup boosted their price objective on shares of Cognizant Technology Solutions from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Jefferies Financial Group lowered their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Guggenheim dropped their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Berenberg Bank set a $59.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Ten equities 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 has an average rating of “Hold” and an average price target of $72.50.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $43.70 on Friday. 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 stock has a market cap of $20.71 billion, a PE ratio of 9.50, a PEG ratio of 0.92 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 1 year low of $43.40 and a 1 year high of $87.03. The stock has a 50 day simple moving average of $53.35 and a 200-day simple moving average of $66.75.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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 business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. 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. On average, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

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