Caisse DE Depot ET Placement DU Quebec Trims Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its ownership in Cognizant Technology Solutions by 42.1%, holding 370,592 shares valued at $28.35 million as of the latest SEC filing.
• Institutional investors and hedge funds currently own 92.44% of Cognizant Technology Solutions, with notable increases in holdings from firms such as Goldman Sachs and Pacer Advisors.
• Cognizant reported an EPS of $1.31 for its recent quarter, exceeding estimates, with a notable 8.1% increase in revenue year-over-year, totaling $5.25 billion.

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 42.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 370,592 shares of the information technology service provider's stock after selling 269,705 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Cognizant Technology Solutions worth $28,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Cognizant Technology Solutions by 13.3% during the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after purchasing an additional 1,422,265 shares during the period. Goldman Sachs Group Inc. grew its position in Cognizant Technology Solutions by 117.5% during 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 buying an additional 3,677,145 shares during the period. Wellington Management Group LLP grew its position in Cognizant Technology Solutions by 9.9% during the first quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider's stock valued at $494,061,000 after buying an additional 579,175 shares during the period. Dimensional Fund Advisors LP grew its position in Cognizant Technology Solutions by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider's stock valued at $461,169,000 after buying an additional 28,646 shares during the period. Finally, Northern Trust Corp grew its position in Cognizant Technology Solutions by 16.2% during the fourth quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock valued at $458,340,000 after buying an additional 831,276 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH traded up $0.53 during midday trading on Friday, hitting $72.25. The company's stock had a trading volume of 2,592,387 shares, compared to its average volume of 4,104,493. The business's 50 day simple moving average is $74.28 and its 200 day simple moving average is $77.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $35.29 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm posted $1.17 earnings per share. The company's revenue for the quarter 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. On average, analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTSH. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target on the stock. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Friday, July 18th. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $86.07.

Cognizant Technology Solutions 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.