Cognizant Technology Solutions Corporation $CTSH Shares Bought by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its stake in Cognizant by 60.9% to 39,474 shares (about $3.08M) in Q2, while institutional investors now own roughly 92.44% of the stock.
• Cognizant beat expectations in its most recent quarter with $1.39 EPS vs. $1.30 consensus and $5.42B revenue vs. $5.32B expected, and set FY2025 guidance of $5.220–$5.260 EPS.
• The stock trades near $85.41 with a market cap of $41.22B and a P/E of 19.82, pays a $0.31 quarterly dividend (~1.5% yield), and carries a consensus "Hold" rating with a $85.44 average price target.

Thrivent Financial for Lutherans lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 60.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,474 shares of the information technology service provider's stock after buying an additional 14,946 shares during the quarter. Thrivent Financial for Lutherans' holdings in Cognizant Technology Solutions were worth $3,079,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTSH. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth $74,917,000. State Street Corp raised its stake in Cognizant Technology Solutions by 0.6% in the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider's stock valued at $1,980,524,000 after buying an additional 157,427 shares in the last quarter. Summit Global Investments lifted its holdings in Cognizant Technology Solutions by 245.1% during the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider's stock worth $2,777,000 after buying an additional 25,276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 6.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider's stock worth $13,600,000 after acquiring an additional 11,037 shares in the last quarter. Finally, Amundi increased its holdings in shares of Cognizant Technology Solutions by 5.2% in the 2nd quarter. Amundi now owns 4,755,344 shares of the information technology service provider's stock valued at $381,135,000 after acquiring an additional 235,432 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 2.0%

Shares of NASDAQ:CTSH opened at $85.41 on Monday. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market cap of $41.22 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.74 and a beta of 0.97. The firm has a fifty day moving average price of $74.64 and a 200 day moving average price of $73.71.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The business's revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 28.77%.

Insider Transactions at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.52, for a total value of $584,640.00. Following the sale, the director owned 47,729 shares of the company's stock, valued at $3,986,326.08. The trade was a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the chief accounting officer directly owned 36,149 shares of the company's stock, valued at $2,891,920. This represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 15,256 shares of company stock worth $1,233,684. Company insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CTSH shares. William Blair upgraded Cognizant Technology Solutions from a "market perform" rating to an "outperform" rating in a research note on Friday, November 21st. Royal Bank Of Canada cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a "sector perform" rating on the stock in a report on Thursday, October 30th. Guggenheim restated a "buy" rating and issued a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Citigroup initiated coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 23rd. They issued a "neutral" rating and a $75.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $85.44.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions NASDAQ: CTSH is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.

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