Y Intercept Hong Kong Ltd Invests $9.71 Million in Cognizant Technology Solutions Corporation $CTSH

Y Intercept Hong Kong Ltd bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 158,233 shares of the information technology service provider’s stock, valued at approximately $9,708,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after acquiring an additional 2,633,683 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 acquiring an additional 987,395 shares during the period. First Trust Advisors LP grew its holdings in shares of Cognizant Technology Solutions by 7.6% during 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 in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $690,959,000. Finally, GQG Partners LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $673,651,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $41.99 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The firm has a market cap of $19.90 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87. Cognizant Technology Solutions Corporation has a 12 month low of $37.08 and a 12 month high of $87.03. The company’s 50-day moving average price is $49.48 and its two-hundred day moving average price is $63.94.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results 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. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the company posted $1.23 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized a stock repurchase program on Monday, May 18th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTSH. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Truist Financial started coverage on shares of Cognizant Technology Solutions in a report on Monday, June 1st. They issued a “hold” rating and a $66.00 price target on the stock. Nomura dropped their price objective on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 4th. 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. Eleven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.35.

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.