Louisiana State Employees Retirement System Invests $3.42 Million in Cognizant Technology Solutions Corporation $CTSH

Louisiana State Employees Retirement System acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55,800 shares of the information technology service provider’s stock, valued at approximately $3,423,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $690,959,000. GQG Partners LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $673,651,000. CIBC Bancorp USA Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $201,834,000. Cibc World Markets Corp acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $234,671,000. Finally, FIL Ltd increased its position in shares of Cognizant Technology Solutions by 46.6% in the 4th quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock valued at $554,482,000 after buying an additional 2,122,600 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTSH shares. Weiss Ratings cut Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. BMO Capital Markets cut their price objective on Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Guggenheim decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. TD Cowen dropped 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 report on Friday. Finally, Robert W. Baird set a $72.00 price target on shares of Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Friday, April 10th. Ten research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.70.

Cognizant Technology Solutions Stock Up 2.2%

Shares of Cognizant Technology Solutions stock opened at $40.03 on Friday. The firm has a market cap of $18.97 billion, a PE ratio of 8.70, a P/E/G ratio of 0.84 and a beta of 0.81. The business’s 50 day simple moving average is $51.46 and its 200 day simple moving average is $65.41. 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 52-week low of $38.97 and a 52-week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping 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 business earned $1.23 EPS. The business’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, analysts predict 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 initiated a share repurchase 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 shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 3.3%. Cognizant Technology Solutions’s payout ratio is 28.70%.

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.