Cognizant Technology Solutions Corporation $CTSH Shares Sold by Trinity Street Asset Management LLP

Trinity Street Asset Management LLP lowered its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.4% in the second quarter, Holdings Channel reports. The firm owned 311,959 shares of the information technology service provider’s stock after selling 14,473 shares during the period. Cognizant Technology Solutions accounts for about 0.6% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 22nd largest position. Trinity Street Asset Management LLP’s holdings in Cognizant Technology Solutions were worth $12,082,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tema ETFs LLC raised its holdings in shares of Cognizant Technology Solutions by 23.0% during the second quarter. Tema ETFs LLC now owns 10,528 shares of the information technology service provider’s stock valued at $408,000 after acquiring an additional 1,968 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Cognizant Technology Solutions by 9.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,600 shares of the information technology service provider’s stock worth $217,000 after acquiring an additional 498 shares during the last quarter. Polianta Ltd increased its position in shares of Cognizant Technology Solutions by 82.4% during the second quarter. Polianta Ltd now owns 44,700 shares of the information technology service provider’s stock worth $1,731,000 after purchasing an additional 20,200 shares in the last quarter. Chesley Taft & Associates LLC increased its position in shares of Cognizant Technology Solutions by 9.1% during the second quarter. Chesley Taft & Associates LLC now owns 30,433 shares of the information technology service provider’s stock worth $1,179,000 after purchasing an additional 2,542 shares in the last quarter. Finally, Czech National Bank raised its stake in Cognizant Technology Solutions by 3.6% in the 2nd quarter. Czech National Bank now owns 134,881 shares of the information technology service provider’s stock valued at $5,224,000 after purchasing an additional 4,633 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTSH. Evercore decreased their price objective on Cognizant Technology Solutions from $100.00 to $70.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Citigroup reissued a “neutral” rating and issued a $60.00 price target (up from $45.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Guggenheim restated a “buy” rating and set a $65.00 price target (down from $80.00) on shares of Cognizant Technology Solutions in a research report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, July 10th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $63.00.

Cognizant Technology Solutions Trading Down 0.7%

Shares of Cognizant Technology Solutions stock opened at $58.20 on Thursday. The firm has a market capitalization of $26.22 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The stock has a 50 day moving average of $47.69 and a 200 day moving average of $56.83.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, research analysts predict that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.39%.

Cognizant Technology Solutions declared that its board has approved a stock buyback program on Monday, May 18th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.