Assenagon Asset Management S.A. reduced its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 92.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,003 shares of the information technology service provider's stock after selling 3,361,355 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of Cognizant Technology Solutions worth $15,327,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ninety One UK Ltd acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth $84,000. State of Alaska Department of Revenue lifted its stake in Cognizant Technology Solutions by 246.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 160,866 shares of the information technology service provider's stock valued at $9,240,000 after buying an additional 114,435 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in Cognizant Technology Solutions by 12.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 5,832 shares of the information technology service provider's stock valued at $335,000 after buying an additional 625 shares in the last quarter. Nvwm LLC grew its holdings in Cognizant Technology Solutions by 2,059.2% during the 3rd quarter. Nvwm LLC now owns 1,058 shares of the information technology service provider's stock valued at $60,000 after buying an additional 1,009 shares during the last quarter. Finally, Mather Group LLC. increased its position in Cognizant Technology Solutions by 374.7% during the third quarter. Mather Group LLC. now owns 4,078 shares of the information technology service provider's stock worth $234,000 after buying an additional 3,219 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on CTSH shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Guggenheim reaffirmed a "buy" rating and set a $65.00 price objective (down from $80.00) on shares of Cognizant Technology Solutions in a research note on Monday, July 27th. Morgan Stanley reiterated a "negative" rating and set a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Robert W. Baird set a $68.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $70.00 target price (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.70.
Check Out Our Latest Analysis on Cognizant Technology Solutions
Cognizant Technology Solutions Stock Performance
NASDAQ CTSH opened at $66.79 on Tuesday. The business's 50-day moving average price is $60.64 and its 200 day moving average price is $54.45. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03. The company has a market capitalization of $30.08 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.23 and a beta of 0.86.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, research analysts predict that Cognizant Technology Solutions Corporation will post 5.74 earnings per share for the current year.
Cognizant Technology Solutions Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were given 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 2.0%. Cognizant Technology Solutions's dividend payout ratio is 28.39%.
Cognizant Technology Solutions Profile
(
Free Report)
Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.
Cognizant's services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.
Further Reading
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