Wealthfront Advisers LLC Sells 26,693 Shares of Cognizant Technology Solutions Corporation $CTSH

Wealthfront Advisers LLC lessened its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 45.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,741 shares of the information technology service provider’s stock after selling 26,693 shares during the quarter. Wealthfront Advisers LLC’s holdings in Cognizant Technology Solutions were worth $1,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTSH. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Physician Wealth Advisors Inc. grew its position in shares of Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after buying an additional 213 shares during the period. Lodestone Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. Finally, Towne Trust Company N.A lifted its holdings in Cognizant Technology Solutions by 85.0% in the fourth quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock valued at $31,000 after buying an additional 170 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.3%

Shares of NASDAQ CTSH opened at $44.64 on Tuesday. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 0.98 and a beta of 0.87. 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 company’s fifty day moving average is $47.37 and its 200-day moving average is $60.60.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions declared that its board has authorized a stock 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 reacquire up to 9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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 issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CTSH shares. UBS Group lowered their target price on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Mizuho cut their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Nomura reduced their price target on Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Morgan Stanley set a $44.00 price objective on Cognizant Technology Solutions and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Finally, TD Cowen dropped their price objective on Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating for the company in a report on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.26.

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.