Rafferty Asset Management LLC Has $23.31 Million Stock Position in Cognizant Technology Solutions Corporation $CTSH

Rafferty Asset Management LLC boosted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,553 shares of the information technology service provider’s stock after purchasing an additional 30,474 shares during the quarter. Rafferty Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $23,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $79,000. Handelsbanken Fonder AB increased its stake in Cognizant Technology Solutions by 19.6% during the third quarter. Handelsbanken Fonder AB now owns 150,131 shares of the information technology service provider’s stock valued at $10,069,000 after acquiring an additional 24,612 shares during the period. Andra AP fonden raised its holdings in Cognizant Technology Solutions by 32.0% in the 3rd quarter. Andra AP fonden now owns 709,449 shares of the information technology service provider’s stock valued at $47,583,000 after acquiring an additional 172,100 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Cognizant Technology Solutions by 4.3% in the 3rd quarter. DNB Asset Management AS now owns 100,562 shares of the information technology service provider’s stock worth $6,745,000 after acquiring an additional 4,157 shares during the period. Finally, Westpac Banking Corp grew its holdings in shares of Cognizant Technology Solutions by 20.9% during the 3rd quarter. Westpac Banking Corp now owns 56,569 shares of the information technology service provider’s stock worth $3,794,000 after purchasing an additional 9,779 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.8%

NASDAQ CTSH opened at $64.43 on Friday. The stock’s 50 day simple moving average is $78.21 and its 200 day simple moving average is $74.36. Cognizant Technology Solutions Corporation has a one year low of $60.03 and a one year high of $87.03. The firm has a market cap of $30.81 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 2.14.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.0%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. Cognizant Technology Solutions’s payout ratio is currently 29.01%.

Insider Activity at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $84.23, for a total transaction of $168,460.00. Following the sale, the director directly owned 29,729 shares of the company’s stock, valued at $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Surya Gummadi sold 1,728 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total transaction of $143,527.68. Following the completion of the sale, the insider directly owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,434 shares of company stock worth $2,460,809. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Berenberg Bank set a $107.00 price target on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings raised shares of Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Morgan Stanley lifted their price objective on Cognizant Technology Solutions from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. UBS Group reiterated a “neutral” rating and issued a $82.00 price objective (up from $78.00) on shares of Cognizant Technology Solutions in a research note on Monday, December 8th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.17.

Cognizant Technology Solutions Profile

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.