Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Cognizant Technology Solutions by 32.7%, owning over 1.6 million shares valued at roughly $126 million.
• Multiple institutional investors have also boosted their holdings, with 92.44% of the company's stock now owned by institutional investors and hedge funds.
• Cognizant reported a quarterly revenue of $5.25 billion, exceeding expectations, and the company has a current dividend yield of 1.9%.

Assenagon Asset Management S.A. boosted its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 32.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,619,269 shares of the information technology service provider's stock after purchasing an additional 399,238 shares during the period. Assenagon Asset Management S.A. owned about 0.33% of Cognizant Technology Solutions worth $126,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Geneos Wealth Management Inc. grew its holdings in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock worth $44,000 after acquiring an additional 309 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $55,000. WPG Advisers LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter worth $61,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Cognizant Technology Solutions during the first quarter valued at $66,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 0.3%

Shares of NASDAQ:CTSH traded down $0.23 during trading on Tuesday, reaching $67.93. The stock had a trading volume of 629,576 shares, compared to its average volume of 3,895,274. The company has a market capitalization of $33.18 billion, a P/E ratio of 13.82, a PEG ratio of 1.39 and a beta of 0.93. 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 firm's 50-day simple moving average is $71.72 and its 200 day simple moving average is $75.18. Cognizant Technology Solutions Corporation has a one year low of $65.17 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted 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 firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the firm earned $1.17 EPS. The business's quarterly 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. As a group, research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is currently 25.20%.

Analyst Ratings Changes

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. 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. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. Wall Street Zen cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average 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.