Public Employees Retirement System of Ohio Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

Public Employees Retirement System of Ohio purchased a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 160,062 shares of the information technology service provider’s stock, valued at approximately $6,199,000.

A number of other large investors have also recently modified their holdings of CTSH. Brighton Jones LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $214,000. Geneos Wealth Management Inc. lifted its stake in Cognizant Technology Solutions by 118.8% in the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Cognizant Technology Solutions in the first quarter worth $142,000. Cresset Asset Management LLC lifted its position in Cognizant Technology Solutions by 11.4% in the second quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock valued at $715,000 after purchasing an additional 935 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Cognizant Technology Solutions by 231.4% during the second quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock valued at $2,315,000 after acquiring an additional 20,716 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho set a $64.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Cognizant Technology Solutions in a report on Friday, July 10th. Citigroup restated a “neutral” rating and issued a $60.00 price target (up from $45.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Morgan Stanley reaffirmed a “negative” rating and set a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Finally, Truist Financial assumed coverage on Cognizant Technology Solutions in a research note on Monday, June 1st. They set a “hold” rating and a $66.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

Cognizant Technology Solutions Stock Down 1.8%

NASDAQ:CTSH opened at $63.39 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The firm has a market cap of $28.55 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.21 and a beta of 0.83. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The firm has a 50-day simple moving average of $51.10 and a two-hundred day simple moving average of $55.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Analysts predict that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.39%.

Cognizant Technology Solutions declared that its board has authorized a stock buyback program on Monday, May 18th that allows the company to repurchase $2.00 billion in 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Company 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.