Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTSoumya EswaranTue, June 23, 2026 at 3:55 PM GMT+2 2 min readPzena Investment Management recently released its first-quarter 2026 commentary for "Pzena Focused Value Strategy." A copy of the letter can be downloaded here. The equity market faced challenges in the first quarter due to the Iran conflict and the related energy price hike, compounded by continued AI-related uncertainty. Despite this volatility, energy stocks led the value index higher, but the portfolio fell short of the index and returned -4.7% (net) vs. 2.1% for the Russell 1000 Value Index. Despite the uncertainty, the firm believes that the current environment presents a strong long-term opportunity. In addition, you can check the Fund's top five holdings to see its best picks for 2026.In its first-quarter 2026 investor letter, Pzena Focused Value Strategy highlighted Cognizant Technology Solutions Corporation (NASDAQ:CTSH). Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a professional services company that offers consulting and technology, and outsourcing services. On June 22, 2026, Cognizant Technology Solutions Corporation (NASDAQ:CTSH) closed at $41.83 per share. One-month return of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was -19.78%, and its shares lost 46.23% over the past 52 weeks. Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has a market capitalization of $19.79 billion.Pzena Focused Value Strategy stated the following regarding Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in its Q1 2026 investor letter:"The health care, financials, and technology sectors were the largest detractors from performance during the quarter. Leading IT services provider Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was weak, despite reporting robust 4Q earnings with peer leading organic growth, due to fears around AI disruption to the services industry more broadly. We continue to see these fears as overblown and added to our position on weakness."Jim Cramer Says Cognizant (CTSH) Is a Smart and Essential Tech Player!Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 50 hedge fund portfolios held Cognizant Technology Solutions Corporation (NASDAQ:CTSH) at the end of the first quarter, up from 49 in the previous quarter. While we acknowledge the potential of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info