Korea Investment CORP Sells 4,763 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Korea Investment CORP reduced its holdings in Cognizant Technology Solutions Corporation by 1.3%, now owning approximately 356,105 shares valued at $27.24 million.
• Goldman Sachs and Pacer Advisors significantly increased their stakes in the company by 117.5% and 2,585% respectively in the first quarter, indicating strong institutional interest.
• Cognizant also recently reported quarterly earnings of $1.31 per share, surpassing analysts' estimates and showing a year-over-year revenue increase of 8.1%.

Korea Investment CORP decreased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,105 shares of the information technology service provider's stock after selling 4,763 shares during the period. Korea Investment CORP owned 0.07% of Cognizant Technology Solutions worth $27,242,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its stake in Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock valued at $923,925,000 after acquiring an additional 1,422,265 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after acquiring an additional 3,677,145 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cognizant Technology Solutions by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider's stock worth $461,169,000 after acquiring an additional 28,646 shares during the period. Northern Trust Corp increased its holdings in Cognizant Technology Solutions by 16.2% during the 4th quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock worth $458,340,000 after acquiring an additional 831,276 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cognizant Technology Solutions by 7.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,373,164 shares of the information technology service provider's stock worth $336,296,000 after acquiring an additional 309,919 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their target price for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Evercore ISI initiated 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. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus target price of $86.31.

Cognizant Technology Solutions Trading Down 1.1%

Shares of CTSH traded down $0.82 during mid-day trading on Monday, reaching $71.55. The company's stock had a trading volume of 659,998 shares, compared to its average volume of 3,821,796. The stock has a market cap of $34.95 billion, a PE ratio of 14.54, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The company's fifty day moving average price is $74.95 and its two-hundred day moving average price is $77.46.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's payout ratio is presently 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.