Magnetar Financial LLC Purchases Shares of 12,547 Cognizant Technology Solutions Corporation $CTSH

Key Points

• Magnetar Financial LLC acquired 12,547 shares of Cognizant Technology Solutions, valued at approximately $960,000, in the first quarter.
• Several institutional investors have also increased their stakes in Cognizant, with 92.44% of the company's stock now owned by hedge funds and other investors.
• Analysts have mixed ratings on Cognizant, with a consensus price target of $86.07 and several recent upgrades and downgrades affecting its perceived value.

Magnetar Financial LLC purchased a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,547 shares of the information technology service provider's stock, valued at approximately $960,000.

A number of other large investors also recently bought and sold shares of the company. CoreCap Advisors LLC increased its position in Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after acquiring an additional 126 shares during the period. Connecticut Wealth Management LLC grew its position in Cognizant Technology Solutions by 0.8% in the fourth quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider's stock worth $1,357,000 after acquiring an additional 138 shares in the last quarter. Conning Inc. boosted its stake in shares of Cognizant Technology Solutions by 4.4% during the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock worth $271,000 after acquiring an additional 149 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Cognizant Technology Solutions by 1.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock valued at $668,000 after purchasing an additional 149 shares during the period. Finally, Private Trust Co. NA boosted its stake in Cognizant Technology Solutions by 8.6% during the 1st quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider's stock valued at $146,000 after purchasing an additional 151 shares during the period. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTSH shares. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a report on Friday, July 18th. Evercore ISI began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $86.07.

Cognizant Technology Solutions Trading Up 0.1%

Shares of NASDAQ:CTSH traded up $0.04 during midday trading on Wednesday, hitting $71.82. 3,186,547 shares of the stock traded hands, compared to its average volume of 3,823,396. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The stock has a market capitalization of $35.08 billion, a PE ratio of 14.60, a P/E/G ratio of 1.50 and a beta of 0.93. The business's 50 day moving average is $74.07 and its two-hundred day moving average is $76.75. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions's payout ratio is presently 25.20%.

Cognizant Technology Solutions Company 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.