The Manufacturers Life Insurance Company Decreases Stock Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Cognizant Technology Solutions by 5.6%, selling 25,897 shares to hold 434,223 shares valued at $33.2 million as of the latest SEC filing.
• Cognizant reported $1.31 earnings per share for the last quarter, exceeding analysts' expectations of $1.26, and recorded a revenue of $5.25 billion, surpassing estimates of $5.17 billion.
• The company also declared a quarterly dividend of $0.31, with a current annual yield of 1.7% and a payout ratio of 25.20%.

The Manufacturers Life Insurance Company reduced its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 434,223 shares of the information technology service provider's stock after selling 25,897 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Cognizant Technology Solutions worth $33,218,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CTSH. Magnetar Financial LLC acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth about $960,000. Canada Pension Plan Investment Board raised its stake in shares of Cognizant Technology Solutions by 327.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,105,521 shares of the information technology service provider's stock worth $84,572,000 after purchasing an additional 846,835 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter worth about $61,000. State of Wyoming lifted its holdings in shares of Cognizant Technology Solutions by 5.1% during the first quarter. State of Wyoming now owns 6,160 shares of the information technology service provider's stock worth $471,000 after purchasing an additional 299 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $51,510,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 target price for the company. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target on the stock. 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 note on Wednesday, August 20th. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $86.07.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH traded up $0.37 during trading hours on Friday, reaching $71.82. The company's stock had a trading volume of 3,981,926 shares, compared to its average volume of 3,499,319. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.50 and a beta of 0.93. The company's 50-day moving average is $73.73 and its two-hundred day moving average is $76.30. 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 Corporation has a 1-year low of $65.52 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted 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 business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The business's 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. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current 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 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 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.