KBC Group NV Sells 504,295 Shares of Cognizant Technology Solutions Corporation $CTSH

KBC Group NV decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 63.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,494 shares of the information technology service provider’s stock after selling 504,295 shares during the quarter. KBC Group NV’s holdings in Cognizant Technology Solutions were worth $17,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $25,000. Lodestone Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter valued at $28,000. Physician Wealth Advisors Inc. raised its stake 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. Finally, Prosperity Bancshares Inc purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at $29,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Trading Down 2.3%

NASDAQ:CTSH opened at $43.63 on Wednesday. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The stock has a market cap of $20.67 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a 50-day simple moving average of $47.29 and a 200-day simple moving average of $60.32.

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

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback program on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CTSH shares. Susquehanna decreased their target price on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating on the stock in a research report on Friday, May 1st. Berenberg Bank set a $59.00 price target on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Wednesday, June 17th. HSBC cut their price objective on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. UBS Group cut their target price on Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. Finally, TD Cowen dropped their price target on shares of Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating for the company in a research note on Friday, June 26th. Ten equities 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, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $64.26.

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.