Pzena Investment Management added to its position in Cognizant Technology Solutions Corporation during the first quarter of 2026, dismissing AI disruption fears as overblown. The Pzena Focused Value Strategy returned -4.7% net versus a 2.1% gain for the Russell 1000 Value Index, with health care, financials, and technology sectors the largest detractors. Cognizant shares fell 19.78% in the one-month period through June 22, 2026, and lost 46.23% over the prior 52 weeks, closing at $41.83 with a market capitalization of $19.79 billion. The firm noted that Cognizant reported robust fourth-quarter earnings with peer-leading organic growth, yet the stock weakened on broader AI-related concerns. Hedge fund ownership edged up to 50 portfolios from 49 in the previous quarter.
Cognizant Technology Solutions Corp Class APzena added to position, citing robust Q4 earnings and peer-leading organic growth, and dismissing AI fears as overblown.