Ameriprise Financial Inc. Boosts Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Ameriprise Financial Inc. increased its stake in Cognizant Technology Solutions by 1.1%, raising its holdings to 530,152 shares, valued at approximately $40.55 million.
• Wall Street analysts have mixed ratings for Cognizant, with five analysts rated it as a "Buy" and eleven as a "Hold", and a consensus price target of $86.07.
• Cognizant reported quarterly earnings of $1.31 per share, exceeding analysts' expectations, with revenue of $5.25 billion, an 8.1% increase year-over-year.

Ameriprise Financial Inc. boosted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 530,152 shares of the information technology service provider's stock after purchasing an additional 5,970 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.11% of Cognizant Technology Solutions worth $40,553,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norinchukin Bank The lifted its holdings in shares of Cognizant Technology Solutions by 43.3% during the first quarter. Norinchukin Bank The now owns 40,928 shares of the information technology service provider's stock valued at $3,131,000 after purchasing an additional 12,373 shares during the last quarter. CW Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 0.9% during the 1st quarter. CW Advisors LLC now owns 25,192 shares of the information technology service provider's stock valued at $1,928,000 after acquiring an additional 227 shares during the last quarter. United Asset Strategies Inc. acquired a new stake in Cognizant Technology Solutions in the 1st quarter valued at approximately $383,000. Martingale Asset Management L P grew its holdings in shares of Cognizant Technology Solutions by 34.5% during the 1st quarter. Martingale Asset Management L P now owns 104,867 shares of the information technology service provider's stock worth $8,022,000 after purchasing an additional 26,890 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Cognizant Technology Solutions by 9.7% during the 1st quarter. Candriam S.C.A. now owns 41,469 shares of the information technology service provider's stock worth $3,172,000 after purchasing an additional 3,651 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CTSH shares. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Friday, July 18th. 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 target price on the stock. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and an average price target of $86.07.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded down $0.62 during mid-day trading on Tuesday, hitting $71.63. 1,673,674 shares of the stock traded hands, compared to its average volume of 3,816,906. The company has a market cap of $34.98 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The firm has a 50 day simple moving average of $74.19 and a two-hundred day simple moving average of $76.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results 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. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the business earned $1.17 EPS. The business's quarterly revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's payout ratio 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.