Cognizant Technology Solutions Corporation $CTSH Shares Acquired by State Street Corp

State Street Corp lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,381,572 shares of the information technology service provider’s stock after purchasing an additional 157,427 shares during the quarter. State Street Corp owned about 5.20% of Cognizant Technology Solutions worth $1,980,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CTSH. Unison Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after purchasing an additional 135 shares during the period. NewSquare Capital LLC increased its holdings in Cognizant Technology Solutions by 71.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 153 shares during the period. STF Management LP raised its holdings in Cognizant Technology Solutions by 2.1% in the second quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock valued at $588,000 after acquiring an additional 158 shares in the last quarter. Kesler Norman & Wride LLC lifted its stake in Cognizant Technology Solutions by 1.6% in the second quarter. Kesler Norman & Wride LLC now owns 11,289 shares of the information technology service provider’s stock worth $881,000 after acquiring an additional 179 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC grew its holdings in Cognizant Technology Solutions by 0.3% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 57,714 shares of the information technology service provider’s stock worth $4,503,000 after acquiring an additional 189 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $83.22 on Thursday. The stock has a market cap of $40.17 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.65 and a beta of 0.97. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The stock has a 50 day moving average of $72.34 and a two-hundred day moving average of $73.57. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.32 billion. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.77%.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 3,125 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.01, for a total transaction of $250,031.25. Following the completion of the sale, the chief executive officer directly owned 75,454 shares of the company’s stock, valued at approximately $6,037,074.54. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the transaction, the chief accounting officer owned 36,149 shares in the company, valued at $2,891,920. This trade represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,125 shares of company stock valued at $637,981 in the last quarter. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTSH. The Goldman Sachs Group restated a “neutral” rating and issued a $84.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Royal Bank Of Canada cut their price target on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 1st. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $85.44.

Cognizant Technology Solutions Profile

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.