Bank of New York Mellon Corp Sells 287,385 Shares of Cognizant Technology Solutions Corporation $CTSH

Bank of New York Mellon Corp lowered its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 9,831,733 shares of the information technology service provider’s stock after selling 287,385 shares during the period. Bank of New York Mellon Corp’s holdings in Cognizant Technology Solutions were worth $767,170,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTSH. Hilltop National Bank acquired a new position in Cognizant Technology Solutions in the second quarter valued at $27,000. Geneos Wealth Management Inc. raised its position in shares of Cognizant Technology Solutions by 118.8% in 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 in the last quarter. WPG Advisers LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at about $61,000. Zions Bancorporation National Association UT bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $66,000. Finally, Wayfinding Financial LLC acquired a new stake in Cognizant Technology Solutions during the first quarter worth approximately $75,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTSH. Weiss Ratings reissued a “hold (c)” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. UBS Group set a $78.00 price objective on shares of Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a “hold” rating and a $80.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.19.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total transaction of $187,950.00. Following the transaction, the chief accounting officer owned 36,630 shares of the company’s stock, valued at $2,753,843.40. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

CTSH opened at $72.73 on Tuesday. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The company has a market cap of $35.52 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.47 and a beta of 0.95. The company’s fifty day moving average price is $69.03 and its two-hundred day moving average price is $73.72. The company has a current ratio of 2.36, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. Cognizant Technology Solutions’s dividend payout ratio is 28.77%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.