CIBC Bancorp USA Inc. Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

CIBC Bancorp USA Inc. acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,009,306 shares of the information technology service provider’s stock, valued at approximately $201,834,000. Cognizant Technology Solutions makes up approximately 0.7% of CIBC Bancorp USA Inc.’s investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors have also modified their holdings of CTSH. Achmea Investment Management B.V. raised its holdings in Cognizant Technology Solutions by 58.3% in the third quarter. Achmea Investment Management B.V. now owns 303,146 shares of the information technology service provider’s stock valued at $20,332,000 after buying an additional 111,634 shares during the period. Coldstream Capital Management Inc. grew its stake in Cognizant Technology Solutions by 7.1% during the third quarter. Coldstream Capital Management Inc. now owns 8,337 shares of the information technology service provider’s stock worth $559,000 after buying an additional 550 shares during the period. Danske Bank A S acquired a new stake in shares of Cognizant Technology Solutions in the third quarter worth $21,377,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $53,000. Finally, Stance Capital LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group set a $71.00 price target on shares of Cognizant Technology Solutions in a research report on Friday. Morgan Stanley raised their price objective on Cognizant Technology Solutions from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Susquehanna reaffirmed a “positive” rating and issued a $98.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Finally, Argus upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, February 10th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $88.78.

Cognizant Technology Solutions Price Performance

CTSH opened at $61.32 on Wednesday. Cognizant Technology Solutions Corporation has a twelve month low of $60.03 and a twelve month high of $87.03. The firm has a market cap of $29.33 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.32 and a beta of 1.00. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $73.20 and a 200 day simple moving average of $73.72.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.31 billion. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 29.01%.

Insider Activity at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 4,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $85.30, for a total value of $341,200.00. Following the completion of the transaction, the director owned 37,729 shares of the company’s stock, valued at approximately $3,218,283.70. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $85.06, for a total value of $250,927.00. Following the sale, the chief executive officer owned 75,209 shares of the company’s stock, valued at approximately $6,397,277.54. This trade represents a 3.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,809 shares of company stock valued at $1,423,037. Insiders own 0.32% of the company’s stock.

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.