Sequoia Financial Advisors LLC Increases Position in Cognizant Technology Solutions Corporation $CTSH

Sequoia Financial Advisors LLC increased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 69.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,919 shares of the information technology service provider’s stock after acquiring an additional 40,379 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cognizant Technology Solutions were worth $3,831,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTSH. California State Teachers Retirement System increased its holdings in Cognizant Technology Solutions by 3,538.3% during the 2nd quarter. California State Teachers Retirement System now owns 26,880,130 shares of the information technology service provider’s stock worth $1,041,067,000 after purchasing an additional 26,141,316 shares during the last quarter. Norges Bank purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $690,959,000. GQG Partners LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $673,651,000. Assenagon Asset Management S.A. grew its position in shares of Cognizant Technology Solutions by 925.5% during the second quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock worth $141,456,000 after buying an additional 3,296,205 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $234,671,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, July 10th. Royal Bank Of Canada set a $55.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, July 24th. Nomura decreased their price target on Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Susquehanna set a $82.00 price objective on Cognizant Technology Solutions and gave the company a “positive” rating in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.00.

Cognizant Technology Solutions Stock Up 2.9%

Shares of NASDAQ:CTSH opened at $60.00 on Friday. The company’s fifty day moving average is $54.42 and its two-hundred day moving average is $54.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. The stock has a market capitalization of $27.03 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.12 and a beta of 0.83.

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 the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the firm posted $1.31 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post 5.74 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, August 18th. Cognizant Technology Solutions’s payout ratio is presently 28.39%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services and information technology company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company provides consulting, systems integration, application development and maintenance, and business process services to clients across industries.

Its offerings include cloud enablement, software engineering, data and analytics, artificial intelligence, cybersecurity, automation and digital workplace solutions.