ARGA Investment Management LP Buys 15,312 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• ARGA Investment Management LP increased its stake in Cognizant Technology Solutions by 13.4%, acquiring an additional 15,312 shares, bringing its total holdings to 129,398 shares valued at $10,097,000.
• Several institutional investors made significant changes in their positions during the second quarter, with the Virginia Retirement Systems buying a new stake valued at approximately $74.9 million.
• Research analysts show varied opinions on Cognizant Technology Solutions; Wells Fargo set an "overweight" rating with a target price of $82.00, while others like JPMorgan cut their target price to $89.00.

ARGA Investment Management LP raised its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,398 shares of the information technology service provider's stock after buying an additional 15,312 shares during the period. ARGA Investment Management LP's holdings in Cognizant Technology Solutions were worth $10,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $74,917,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 6.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider's stock valued at $13,600,000 after purchasing an additional 11,037 shares in the last quarter. LBP AM SA bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $8,541,000. Leo Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $912,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Cognizant Technology Solutions by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock valued at $38,253,000 after purchasing an additional 7,105 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

CTSH has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Cognizant Technology Solutions in a research report on Tuesday. They set an "overweight" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Weiss Ratings restated a "hold (c+)" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, October 8th. Guggenheim reiterated a "buy" rating and issued a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday. Finally, Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $85.44.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $68.03 on Friday. The company has a market cap of $33.23 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week high of $90.82. The business has a 50 day moving average price of $69.11 and a 200-day moving average price of $73.62. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business 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. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed 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 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio 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.

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