Wedge Capital Management L L P NC Increases Stock Position in Cognizant Technology Solutions Corporation $CTSH

Wedge Capital Management L L P NC raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 19.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 907,233 shares of the information technology service provider’s stock after purchasing an additional 149,429 shares during the period. Cognizant Technology Solutions accounts for approximately 1.0% of Wedge Capital Management L L P NC’s holdings, making the stock its 25th biggest position. Wedge Capital Management L L P NC owned 0.19% of Cognizant Technology Solutions worth $60,848,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CGN Advisors LLC boosted its stake in Cognizant Technology Solutions by 3.9% during the third quarter. CGN Advisors LLC now owns 28,591 shares of the information technology service provider’s stock valued at $1,918,000 after buying an additional 1,082 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Cognizant Technology Solutions by 3.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 42,037 shares of the information technology service provider’s stock worth $2,819,000 after acquiring an additional 1,583 shares in the last quarter. Louisbourg Investments Inc. boosted its position in shares of Cognizant Technology Solutions by 14.6% during the 3rd quarter. Louisbourg Investments Inc. now owns 91,986 shares of the information technology service provider’s stock valued at $6,170,000 after acquiring an additional 11,750 shares during the last quarter. Board of the Pension Protection Fund grew its holdings in shares of Cognizant Technology Solutions by 39.7% in the third quarter. Board of the Pension Protection Fund now owns 19,000 shares of the information technology service provider’s stock valued at $1,274,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Czech National Bank increased its position in Cognizant Technology Solutions by 2.9% in the third quarter. Czech National Bank now owns 124,043 shares of the information technology service provider’s stock worth $8,320,000 after purchasing an additional 3,551 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 3,125 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $80.01, for a total value 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 $6,037,074.54. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This represents a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,256 shares of company stock worth $1,233,684. Insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Stock Up 2.0%

Shares of NASDAQ:CTSH opened at $85.41 on Friday. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The business has a 50 day simple moving average of $74.64 and a two-hundred day simple moving average of $73.76. The firm has a market capitalization of $41.22 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company’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 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.31 per share. 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%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price objective for the company. Royal Bank Of Canada lowered their price target on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.44.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.