248,651 Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Cognizant Technology Solutions stake by 372.3%, purchasing 248,651 shares to hold 315,432 shares worth approximately $18.1 million.
• Institutional investors own 92.44% of Cognizant’s outstanding stock, while analysts maintain a consensus “Hold” rating with an average price target of $64.70.
• Cognizant reported quarterly revenue of $5.48 billion and EPS of $1.37, narrowly missing estimates; the company also maintains a quarterly dividend of $0.33 per share, yielding about 1.9% annually.

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 372.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,432 shares of the information technology service provider's stock after purchasing an additional 248,651 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.07% of Cognizant Technology Solutions worth $18,118,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Marquette Asset Management LLC lifted its stake in shares of Cognizant Technology Solutions by 183.9% during the 3rd quarter. Marquette Asset Management LLC now owns 545 shares of the information technology service provider's stock valued at $31,000 after buying an additional 353 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $35,000. Signature Equity Partners LLC boosted its holdings in Cognizant Technology Solutions by 102.4% in the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider's stock worth $37,000 after buying an additional 303 shares during the period. Alpine Bank Wealth Management purchased a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. grew its stake in Cognizant Technology Solutions by 1,580.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 840 shares of the information technology service provider's stock valued at $52,000 after buying an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, July 24th. Susquehanna set a $82.00 target price on Cognizant Technology Solutions and gave the stock a "positive" rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their price target on Cognizant Technology Solutions from $61.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings upgraded Cognizant Technology Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, TD Cowen reiterated a "hold" rating and set a $60.00 price objective (up from $54.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 13th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus target price of $64.70.

Cognizant Technology Solutions Trading Up 2.1%

Cognizant Technology Solutions stock opened at $68.18 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The stock has a market cap of $30.71 billion, a P/E ratio of 14.66, a PEG ratio of 1.25 and a beta of 0.86. The firm's fifty day moving average price is $60.83 and its 200-day moving average price is $54.50.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 annualized dividend and a dividend yield of 1.9%. Cognizant Technology Solutions's payout ratio is presently 28.39%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant's services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.

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