Cognizant Technology Solutions Corporation $CTSH Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp increased its holdings in Cognizant Technology Solutions by 7.7% during the second quarter, owning 62,720 shares valued at approximately $4.89 million as of its latest SEC filing.
• Several institutional investors have also modified their holdings, with 92.44% of Cognizant's stock owned by these investors.
• Analysts have mixed ratings for Cognizant Technology Solutions, with a consensus target price of $86.79 and both "buy" and "hold" ratings from various research firms.

Truist Financial Corp lifted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,720 shares of the information technology service provider's stock after acquiring an additional 4,492 shares during the quarter. Truist Financial Corp's holdings in Cognizant Technology Solutions were worth $4,894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conning Inc. increased its holdings in Cognizant Technology Solutions by 4.4% in the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock valued at $271,000 after buying an additional 149 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Cognizant Technology Solutions by 1.7% in 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 buying an additional 149 shares during the last quarter. Private Trust Co. NA increased its holdings in Cognizant Technology Solutions by 8.6% in 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 buying an additional 151 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Cognizant Technology Solutions by 4.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 3,969 shares of the information technology service provider's stock valued at $304,000 after buying an additional 154 shares during the last quarter. Finally, Cairn Investment Group Inc. increased its holdings in Cognizant Technology Solutions by 0.3% in the first quarter. Cairn Investment Group Inc. now owns 54,755 shares of the information technology service provider's stock valued at $4,189,000 after buying an additional 172 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research report on Friday, July 18th. Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $86.79.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $67.94 on Wednesday. Cognizant Technology Solutions Corporation has a one year low of $65.17 and a one year high of $90.82. The stock has a fifty day moving average of $69.87 and a 200-day moving average of $74.28. The company has a market capitalization of $33.18 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced 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 company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company'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 analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is 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.

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