Causeway Capital Management LLC Buys 99,572 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Causeway Capital Management LLC increased its stake in Cognizant Technology Solutions by 12.2%, acquiring an additional 99,572 shares in the first quarter, bringing their total to approximately 917,875 shares.
• Cognizant reported a Q2 earnings EPS of $1.31, exceeding expectations by $0.05, and a revenue of $5.25 billion, up 8.1% year-over-year.
• The company announced a quarterly dividend of $0.31, which equates to an annualized dividend yield of 1.7% and a payout ratio of 25.20%.

Causeway Capital Management LLC raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 917,875 shares of the information technology service provider's stock after purchasing an additional 99,572 shares during the period. Cognizant Technology Solutions accounts for approximately 1.5% of Causeway Capital Management LLC's portfolio, making the stock its 15th largest holding. Causeway Capital Management LLC owned 0.19% of Cognizant Technology Solutions worth $70,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in 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 purchasing an additional 126 shares during the period. Connecticut Wealth Management LLC grew its holdings in Cognizant Technology Solutions by 0.8% during the fourth 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. grew its holdings in Cognizant Technology Solutions by 4.4% during the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock valued at $271,000 after purchasing an additional 149 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Cognizant Technology Solutions by 1.7% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock valued at $668,000 after purchasing an additional 149 shares during the period. Finally, Private Trust Co. NA grew its holdings in Cognizant Technology Solutions by 8.6% during the first quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider's stock valued at $146,000 after purchasing an additional 151 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of recent research reports. TD Securities upped their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. 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 note on Friday, July 18th. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an "outperform" rating and a $100.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. 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.com, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $86.07.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $0.59 during midday trading on Thursday, reaching $71.72. 3,330,317 shares of the stock were exchanged, compared to its average volume of 4,444,664. The company's fifty day moving average is $74.34 and its 200-day moving average is $77.18. 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 firm has a market cap of $35.03 billion, a PE ratio of 14.58, a PEG ratio of 1.51 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week 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, topping analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. Cognizant Technology Solutions's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Cognizant Technology Solutions's dividend payout ratio is presently 25.20%.

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.