Amundi Raises Stake in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Amundi increased its stake in Cognizant Technology Solutions by 61.6%, owning 4,519,912 shares valued at approximately $331.58 million as of its latest filing.
• The company reported a quarterly earnings per share (EPS) of $1.31, surpassing the estimated $1.26, with revenues of $5.25 billion for the quarter.
• Evercore ISI and Guggenheim have recently upgraded their ratings on Cognizant, setting target prices of $100.00 and $90.00, respectively.

Amundi raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 61.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,519,912 shares of the information technology service provider's stock after acquiring an additional 1,723,335 shares during the period. Amundi owned approximately 0.91% of Cognizant Technology Solutions worth $331,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 117.5% in the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after buying an additional 3,677,145 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cognizant Technology Solutions by 2,585.0% in the first quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock worth $135,910,000 after buying an additional 1,710,433 shares during the last quarter. Invesco Ltd. raised its stake in Cognizant Technology Solutions by 13.3% during the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after acquiring an additional 1,422,265 shares during the period. Nuveen LLC bought a new stake in Cognizant Technology Solutions during the 1st quarter worth approximately $90,194,000. Finally, Deutsche Bank AG raised its stake in Cognizant Technology Solutions by 47.8% during the 4th quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider's stock worth $254,028,000 after acquiring an additional 1,068,420 shares during the period. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTSH. JPMorgan Chase & Co. decreased their target price on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a "hold" rating and a $80.00 target price on the stock. Wall Street Zen cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $86.07.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $0.63 on Monday, reaching $71.19. The company's stock had a trading volume of 5,183,678 shares, compared to its average volume of 3,830,746. The stock's fifty day simple moving average is $73.73 and its 200-day simple moving average is $76.30. Cognizant Technology Solutions Corporation has a 1 year low of $65.52 and a 1 year high of $90.82. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $34.77 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating 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%. Cognizant Technology Solutions's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid 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 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.