Sanders Morris Harris LLC Buys Shares of 6,000 Cognizant Technology Solutions Corporation $CTSH

Sanders Morris Harris LLC purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the information technology service provider’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Brighton Jones LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $214,000. Cresset Asset Management LLC increased its stake in Cognizant Technology Solutions by 18.2% during the first quarter. Cresset Asset Management LLC now owns 8,225 shares of the information technology service provider’s stock valued at $629,000 after acquiring an additional 1,268 shares during the period. Raymond James Financial Inc. raised its holdings in Cognizant Technology Solutions by 1.3% in the 1st quarter. Raymond James Financial Inc. now owns 357,055 shares of the information technology service provider’s stock valued at $27,314,000 after acquiring an additional 4,455 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Cognizant Technology Solutions by 124.4% in the 1st quarter. Brooklyn Investment Group now owns 3,831 shares of the information technology service provider’s stock worth $293,000 after acquiring an additional 2,124 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTSH. Royal Bank Of Canada reduced their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Wells Fargo & Company lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Citigroup started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $85.44.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $83.63 on Thursday. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The firm’s 50-day moving average price is $73.95 and its two-hundred day moving average price is $73.70. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.71 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the company earned $1.25 EPS. Cognizant Technology Solutions’s revenue for the quarter 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. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors 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 payout ratio is currently 28.77%.

Insider Buying and Selling

In other news, CEO Ravi Kumar Singisetti sold 3,125 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.01, for a total transaction of $250,031.25. Following the transaction, the chief executive officer directly owned 75,454 shares in the company, valued at approximately $6,037,074.54. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief accounting officer directly owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This represents a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,256 shares of company stock worth $1,233,684 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.