Cognizant Technology Solutions Corporation $CTSH Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,220 shares of the information technology service provider’s stock after selling 16,810 shares during the period. PNC Financial Services Group Inc.’s holdings in Cognizant Technology Solutions were worth $5,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTSH. JPL Wealth Management LLC acquired a new position in Cognizant Technology Solutions during the third quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $28,000. Flagship Harbor Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $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 valued at $28,000 after buying an additional 213 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTSH shares. BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Morgan Stanley set a $44.00 target price on shares of Cognizant Technology Solutions and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. dropped their target price on Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday. Jefferies Financial Group cut their price target on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, Daiwa Securities Group reduced their price target on Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.35.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $47.05 on Tuesday. The stock has a market capitalization of $22.30 billion, a P/E ratio of 10.23, a PEG ratio of 0.99 and a beta of 0.87. The business has a 50 day simple moving average of $47.05 and a two-hundred day simple moving average of $59.25. Cognizant Technology Solutions Corporation has a 12 month low of $37.08 and a 12 month high of $87.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23.

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 (EPS) for the quarter, topping 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s 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. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is 28.70%.

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

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.