Adage Capital Partners GP L.L.C. Has $42.95 Million Stock Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Cognizant Technology Solutions by 50.4%, acquiring an additional 188,200 shares, bringing its total ownership to 561,450 shares valued at approximately $42.95 million.
• Cognizant reported a $1.31 EPS for the last quarter, exceeding analyst expectations of $1.26, with revenues of $5.25 billion reflecting an 8.1% year-over-year increase.
• The company declared a quarterly dividend of $0.31, which results in an annualized dividend of $1.24 and a yield of 1.7%.

Adage Capital Partners GP L.L.C. grew its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 50.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561,450 shares of the information technology service provider's stock after buying an additional 188,200 shares during the period. Adage Capital Partners GP L.L.C. owned 0.11% of Cognizant Technology Solutions worth $42,951,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in shares of Cognizant Technology Solutions by 21.5% during the fourth 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 last quarter. Connecticut Wealth Management LLC increased its holdings in Cognizant Technology Solutions by 0.8% during the 4th quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider's stock valued at $1,357,000 after purchasing an additional 138 shares during the period. Conning Inc. boosted its position in shares of Cognizant Technology Solutions by 4.4% in the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock worth $271,000 after purchasing an additional 149 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Cognizant Technology Solutions by 1.7% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after acquiring an additional 149 shares during the last quarter. Finally, Private Trust Co. NA raised 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 buying an additional 151 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CTSH. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of 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. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective on the stock. Finally, Wall Street Zen lowered shares of 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 given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $86.07.

Cognizant Technology Solutions Trading Down 0.9%

NASDAQ:CTSH traded down $0.63 during trading hours on Monday, reaching $71.19. 5,183,678 shares of the company were exchanged, compared to its average volume of 3,830,746. The stock has a 50 day simple moving average of $73.73 and a 200 day simple moving average of $76.30. The firm has a market cap of $34.77 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.50 and a beta of 0.93. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-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.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm posted $1.17 EPS. The firm's revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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