960,100 Shares in Cognizant Technology Solutions Corporation $CTSH Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 960,100 shares of Cognizant Technology Solutions, valued at approximately $74.9 million, increasing its ownership to about 0.19% of the company.
• Cognizant reported earnings of $1.31 per share for the latest quarter, surpassing analyst expectations and reflecting an 8.1% year-over-year revenue increase to $5.25 billion.
• The company has a dividend yield of 1.9% and a payout ratio of 25.20%, with a recent quarterly dividend of $0.31 per share paid to stockholders.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 960,100 shares of the information technology service provider's stock, valued at approximately $74,917,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.19% of Cognizant Technology Solutions as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $214,000. GAMMA Investing LLC raised its holdings in Cognizant Technology Solutions by 19.9% during the first quarter. GAMMA Investing LLC now owns 12,059 shares of the information technology service provider's stock valued at $923,000 after buying an additional 2,002 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Cognizant Technology Solutions by 40.7% in the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after buying an additional 8,116 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Cognizant Technology Solutions by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 57,940 shares of the information technology service provider's stock worth $4,432,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in shares of Cognizant Technology Solutions by 12.9% during the 1st quarter. Premier Path Wealth Partners LLC now owns 3,467 shares of the information technology service provider's stock valued at $265,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $66.08 on Friday. The firm has a fifty day moving average price of $69.23 and a two-hundred day moving average price of $73.70. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $32.27 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

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

Cognizant Technology Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of recent analyst reports. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. 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 report on Friday, July 18th. JPMorgan Chase & Co. cut their target price on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target on the stock. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $86.79.

About Cognizant Technology Solutions

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.

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