Maytus Capital Management LLC Acquires Shares of 81,000 Cognizant Technology Solutions Corporation $CTSH

Maytus Capital Management LLC purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 81,000 shares of the information technology service provider’s stock, valued at approximately $6,723,000. Cognizant Technology Solutions accounts for about 1.6% of Maytus Capital Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also modified their holdings of CTSH. Brighton Jones LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $214,000. Geneos Wealth Management Inc. raised its holdings in shares of Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 309 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Cognizant Technology Solutions during the 1st quarter worth $142,000. Cresset Asset Management LLC raised its holdings in shares of Cognizant Technology Solutions by 11.4% during the 2nd quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock worth $715,000 after acquiring an additional 935 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Cognizant Technology Solutions by 231.4% during the 2nd quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock worth $2,315,000 after acquiring an additional 20,716 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho reduced their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Susquehanna reduced their price target on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating on the stock in a report on Friday, May 1st. Morgan Stanley reduced their price target on Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Wedbush upgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $70.00 in a report on Monday, June 8th. Finally, Berenberg Bank set a $59.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $72.50.

Cognizant Technology Solutions Stock Up 0.5%

Shares of CTSH opened at $51.05 on Wednesday. The firm has a market cap of $24.19 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 12-month low of $45.48 and a 12-month high of $87.03. The company’s 50-day moving average price is $54.32 and its 200 day moving average price is $67.35. 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 (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. The firm 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%. Cognizant Technology Solutions’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Cognizant Technology Solutions declared that its board has authorized a stock 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.