Illinois Municipal Retirement Fund Sells 26,936 Shares of Cognizant Technology Solutions Corporation $CTSH

Illinois Municipal Retirement Fund lowered its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 255,186 shares of the information technology service provider’s stock after selling 26,936 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cognizant Technology Solutions were worth $15,656,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CTSH. JPL Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth about $25,000. Lodestone Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $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. Finally, Prosperity Bancshares Inc purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $29,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $44.56 on Friday. The firm has a market cap of $21.12 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.94 and a beta of 0.87. The firm’s fifty day moving average is $47.60 and its 200 day moving average is $61.16. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly 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. 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 period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter 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. Research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions declared that its Board of Directors has approved a share buyback program on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to purchase up to 9% of its shares through open market purchases. Shares repurchase 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 announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 3.0%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.70%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Berenberg Bank set a $59.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Morgan Stanley set a $44.00 target price on Cognizant Technology Solutions and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Mizuho lowered their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.26.

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.