Livforsakringsbolaget Skandia Omsesidigt Grows Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Livforsakringsbolaget Skandia Omsesidigt raised its stake in Cognizant Technology Solutions by 77.9%, owning 143,190 shares worth $11,170,000 as of their latest SEC filing.
• Analysts have mixed views on Cognizant, with the company having a consensus rating of "Hold" and an average price target of $86.79 among research firms.
• Cognizant reported Q2 earnings of $1.31 per share, exceeding estimates, and announced a quarterly dividend of $0.31 with a 1.8% yield.

Livforsakringsbolaget Skandia Omsesidigt lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 77.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,190 shares of the information technology service provider's stock after acquiring an additional 62,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cognizant Technology Solutions were worth $11,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $36,000. Geneos Wealth Management Inc. boosted its stake in Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock worth $44,000 after buying an additional 309 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $55,000. WPG Advisers LLC acquired a new position in Cognizant Technology Solutions during the first quarter worth $61,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cognizant Technology Solutions during the first quarter worth $66,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Friday, July 18th. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft began coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target on the stock. Finally, Evercore ISI began coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $86.79.

Cognizant Technology Solutions Stock Down 0.4%

Shares of CTSH traded down $0.29 during mid-day trading on Tuesday, reaching $67.87. The company's stock had a trading volume of 823,433 shares, compared to its average volume of 3,896,511. Cognizant Technology Solutions Corporation has a 12-month low of $65.17 and a 12-month high of $90.82. The stock has a market cap of $33.15 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. 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 company's 50 day moving average is $71.72 and its 200 day moving average is $75.18.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business'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. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Cognizant Technology Solutions Company 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.