Cognizant Technology Solutions Corporation $CTSH Stake Cut by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management reduced its Cognizant stake by 8.1% in the third quarter, selling 19,226 shares and retaining 217,517 shares valued at approximately $12.7 million. Institutional investors collectively own 92.44% of CTSH.
• Analyst sentiment is mixed: 10 analysts rate the stock Buy, 13 Hold, and one Sell, resulting in a consensus Hold rating and a $64.43 average price target.
• Cognizant shares opened at $59.68, while the company reported quarterly revenue of $5.48 billion and earnings of $1.37 per share. It also pays a quarterly dividend of $0.33, representing a 2.2% annualized yield.

NorthCrest Asset Manangement LLC cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,517 shares of the information technology service provider's stock after selling 19,226 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Cognizant Technology Solutions were worth $12,667,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CTSH. Evolve Private Wealth LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $2,642,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Cognizant Technology Solutions in the 1st quarter valued at about $29,510,000. Ancora Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at approximately $2,929,000. Artemis Investment Management LLP grew its stake in shares of Cognizant Technology Solutions by 289.6% in the 3rd quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider's stock valued at $166,897,000 after buying an additional 2,159,704 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Cognizant Technology Solutions by 14.9% in the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider's stock valued at $1,243,096,000 after buying an additional 2,633,683 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 research firms recently commented on CTSH. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Citigroup reissued a "neutral" rating and set a $60.00 target price (up from $45.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Royal Bank Of Canada set a $55.00 target price on Cognizant Technology Solutions in a research report on Friday, July 24th. Guggenheim reaffirmed a "buy" rating and issued a $65.00 price target (down from $80.00) on shares of Cognizant Technology Solutions in a research note on Monday, July 27th. Finally, Robert W. Baird set a $68.00 price target on Cognizant Technology Solutions in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and a consensus price target of $64.43.

Cognizant Technology Solutions Stock Up 0.8%

Cognizant Technology Solutions stock opened at $59.68 on Tuesday. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The firm has a 50 day moving average price of $59.89 and a 200 day moving average price of $54.32. The company has a market capitalization of $26.88 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Research analysts expect that Cognizant Technology Solutions Corporation will post 5.74 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 2.2%. Cognizant Technology Solutions's dividend payout ratio is presently 28.39%.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation NASDAQ: CTSH is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.

The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.

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