Capital Asset Advisory Services LLC Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

Capital Asset Advisory Services LLC acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 1st quarter, Holdings Channel reports. The fund acquired 22,841 shares of the information technology service provider’s stock, valued at approximately $1,376,000.

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

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $41.07 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12 month low of $37.08 and a 12 month high of $87.03. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.82 and a beta of 0.87. The firm’s 50-day moving average is $50.18 and its 200 day moving average is $64.39.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter last year, the firm earned $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. Research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase 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 buy up to 9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price target 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. 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. TD Cowen decreased their price objective on Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating on the stock in a research report on Friday, June 26th. Evercore lowered their price objective on Cognizant Technology Solutions from $100.00 to $70.00 in a research note on Thursday, April 30th. Finally, BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Eleven 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, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $68.35.

Cognizant Technology Solutions 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.