Wedge Capital Management L L P NC Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Wedge Capital Management L L P NC acquired 757,804 shares of Cognizant Technology Solutions Corporation worth approximately $59.1 million, making it their 21st largest position in the portfolio.
• Recent analyst ratings for Cognizant include a "buy" upgrade from Guggenheim with a target price of $90.00 and a "hold" rating from Deutsche Bank with a target of $80.00, while the stock currently has an average rating of "Hold" with a consensus target price of $86.79.
• The company reported quarterly earnings of $1.31 per share, exceeding expectations, with a revenue increase of 8.1% year-over-year, demonstrating strong financial performance.

Wedge Capital Management L L P NC bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 757,804 shares of the information technology service provider's stock, valued at approximately $59,131,000. Cognizant Technology Solutions accounts for 1.1% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 21st largest holding. Wedge Capital Management L L P NC owned about 0.15% of Cognizant Technology Solutions as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CTSH. Conning Inc. increased its stake in Cognizant Technology Solutions by 4.4% in the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock valued at $271,000 after purchasing an additional 149 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Cognizant Technology Solutions by 1.7% in the first 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 last quarter. Private Trust Co. NA increased its stake in Cognizant Technology Solutions by 8.6% in the first 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 last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Cognizant Technology Solutions by 4.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 3,969 shares of the information technology service provider's stock valued at $304,000 after purchasing an additional 154 shares during the last quarter. Finally, Cairn Investment Group Inc. increased its stake in Cognizant Technology Solutions by 0.3% in the first quarter. Cairn Investment Group Inc. now owns 54,755 shares of the information technology service provider's stock valued at $4,189,000 after purchasing an additional 172 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CTSH. JPMorgan Chase & Co. dropped their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 target price on the stock. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Friday, July 18th. Finally, Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price on the stock. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $86.79.

Cognizant Technology Solutions Trading Down 4.7%

Shares of NASDAQ CTSH traded down $3.32 on Friday, reaching $66.94. 14,562,441 shares of the company traded hands, compared to its average volume of 4,153,355. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.17 and a fifty-two week high of $90.82. The company has a 50 day moving average of $71.86 and a 200 day moving average of $75.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $32.69 billion, a PE ratio of 13.61, a P/E/G ratio of 1.39 and a beta of 0.93.

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 analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

Cognizant Technology Solutions 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.