SEB Asset Management AB Invests $16.89 Million in Cognizant Technology Solutions Corporation $CTSH

SEB Asset Management AB acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 275,227 shares of the information technology service provider’s stock, valued at approximately $16,885,000. SEB Asset Management AB owned 0.06% of Cognizant Technology Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at $28,000. Physician Wealth Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 165.1% in the 4th 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 period. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth $28,000. Prosperity Bancshares Inc acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth $29,000. Finally, Towne Trust Company N.A increased its holdings in shares of Cognizant Technology Solutions by 85.0% during the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Cowen reduced their target price 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. Guggenheim lowered their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. BMO Capital Markets cut their price target on Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Weiss Ratings downgraded Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird decreased their price objective on Cognizant Technology Solutions from $72.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $64.26.

Cognizant Technology Solutions Stock Down 0.3%

Shares of NASDAQ CTSH opened at $44.64 on Tuesday. 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. The business has a fifty day moving average of $47.37 and a two-hundred day moving average of $60.60. The stock has a market cap of $21.15 billion, a PE ratio of 9.70, a PEG ratio of 0.98 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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 net margin of 10.41% and a return on equity of 17.50%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Cognizant Technology Solutions declared that its board has initiated a share repurchase plan on Monday, May 18th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign 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.