117,489 Shares of Cognizant Technology Solutions Corporation $CTSH Acquired by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC acquired 117,489 Cognizant shares worth approximately $7.05 million, while institutional investors collectively own 92.44% of the company.
• Analysts have an average “Hold” rating and a consensus price target of $64.43, with recent targets ranging from $59 to $82.
• Cognizant shares traded at $59.20, while the company reported quarterly revenue of $5.48 billion and EPS of $1.37, slightly below estimates. It also pays a quarterly dividend of $0.33, yielding about 2.2% annually.

Sound Income Strategies LLC bought a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 117,489 shares of the information technology service provider's stock, valued at approximately $7,051,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. Evolve Private Wealth LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $2,642,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $29,510,000. Ancora Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at approximately $2,929,000. Pzena Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions by 14.9% in the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider's stock valued at $1,243,096,000 after purchasing an additional 2,633,683 shares during the period. Finally, Artemis Investment Management LLP boosted its position in shares of Cognizant Technology Solutions by 289.6% during the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider's stock valued at $166,897,000 after purchasing an additional 2,159,704 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTSH shares. Nomura reduced their price target on Cognizant Technology Solutions from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Robert W. Baird set a $68.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. HSBC reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Susquehanna set a $82.00 price target on shares of Cognizant Technology Solutions and gave the stock a "positive" rating in a research note on Thursday, July 30th. Finally, Berenberg Bank set a $59.00 price target on shares of Cognizant Technology Solutions and gave the company a "hold" rating in a research report on Wednesday, June 17th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $64.43.

Cognizant Technology Solutions Stock Down 1.3%

Shares of Cognizant Technology Solutions stock traded down $0.81 during midday trading on Friday, hitting $59.20. The company had a trading volume of 5,314,858 shares, compared to its average volume of 8,052,174. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a market capitalization of $26.67 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.07 and a beta of 0.86. The company has a 50 day moving average of $59.80 and a 200 day moving average of $54.37.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The company had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.48 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 5.74 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions's payout ratio is currently 28.39%.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation NASDAQ: CTSH is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.

The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.

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