Cognizant Technology Solutions Corporation $CTSH Shares Sold by Ascent Group LLC

Key Points

• Ascent Group LLC reduced its stake in Cognizant Technology Solutions by 12.8%, bringing its total holdings to 44,067 shares valued at approximately $3.44 million.
• Five research analysts have rated Cognizant Technology Solutions with a Buy rating, while eleven analysts have assigned a Hold rating, reflecting a consensus target price of $86.79.
• The company reported $1.31 EPS for its most recent quarter, surpassing estimates, with earnings expected to reach 4.98 EPS for the current fiscal year.

Ascent Group LLC cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 12.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,067 shares of the information technology service provider's stock after selling 6,450 shares during the period. Ascent Group LLC's holdings in Cognizant Technology Solutions were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CTSH. Hilltop National Bank purchased a new stake in shares of Cognizant Technology Solutions during the second quarter worth about $27,000. Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 309 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth about $61,000. Zions Bancorporation National Association UT purchased a new stake in Cognizant Technology Solutions during the 1st quarter valued at about $66,000. Finally, Golden State Wealth Management LLC grew its stake in Cognizant Technology Solutions by 290.9% during the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after acquiring an additional 669 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

CTSH has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cognizant Technology Solutions in a research note on Saturday, September 27th. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target 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 data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus target price of $86.79.

Cognizant Technology Solutions Trading Up 1.0%

NASDAQ CTSH opened at $67.66 on Friday. 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 firm's fifty day moving average price is $70.16 and its 200 day moving average price is $74.40. The company has a market capitalization of $33.05 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. Cognizant Technology Solutions Corporation has a 12 month low of $65.17 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm posted $1.17 EPS. Cognizant Technology Solutions'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. On average, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share 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. Investors of record on Monday, August 18th were paid a $0.31 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.