Allianz Asset Management GmbH Purchases 1,636,636 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Allianz Asset Management GmbH increased its stake in Cognizant Technology Solutions by 152.7%, acquiring an additional 1,636,636 shares, bringing its total holdings to 2,708,349 shares valued at $211.3 million.
• Other institutional investors, including Goldman Sachs and Amundi, have also significantly boosted their positions in Cognizant, indicating strong institutional interest in the stock.
• Cognizant Technology Solutions recently declared a quarterly dividend of $0.31 per share, representing a yield of 1.9%, with a dividend payout ratio of 25.20%.

Allianz Asset Management GmbH grew its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 152.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,708,349 shares of the information technology service provider's stock after buying an additional 1,636,636 shares during the period. Allianz Asset Management GmbH owned 0.55% of Cognizant Technology Solutions worth $211,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 117.5% in the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock valued at $520,651,000 after purchasing an additional 3,677,145 shares during the last quarter. Amundi raised its position in shares of Cognizant Technology Solutions by 61.6% in the first quarter. Amundi now owns 4,519,912 shares of the information technology service provider's stock valued at $331,584,000 after buying an additional 1,723,335 shares in the last quarter. Pacer Advisors Inc. lifted its position in Cognizant Technology Solutions by 2,585.0% during the first quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock worth $135,910,000 after purchasing an additional 1,710,433 shares during the period. Invesco Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 13.3% in the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock valued at $923,925,000 after purchasing an additional 1,422,265 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at approximately $90,194,000. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTSH shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cognizant Technology Solutions in a report on Wednesday, October 8th. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price 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 on the stock in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price on the stock. Finally, Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $86.79.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $66.75 on Thursday. The company has a market cap of $32.60 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.40 and a beta of 0.95. Cognizant Technology Solutions Corporation has a 1-year low of $65.17 and a 1-year 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 stock has a 50-day moving average of $69.37 and a two-hundred day moving average of $73.87.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.Cognizant Technology Solutions's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior 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, analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

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

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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.