Cognizant Technology Solutions Corporation $CTSH Stock: State of Alaska Department of Revenue Grows Position

State of Alaska Department of Revenue boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 246.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,866 shares of the information technology service provider's stock after purchasing an additional 114,435 shares during the quarter. State of Alaska Department of Revenue's holdings in Cognizant Technology Solutions were worth $9,240,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 12.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 5,832 shares of the information technology service provider's stock worth $335,000 after buying an additional 625 shares during the last quarter. Nvwm LLC raised its position in shares of Cognizant Technology Solutions by 2,059.2% in the 3rd quarter. Nvwm LLC now owns 1,058 shares of the information technology service provider's stock worth $60,000 after buying an additional 1,009 shares during the period. Mather Group LLC. boosted its holdings in Cognizant Technology Solutions by 374.7% in the third quarter. Mather Group LLC. now owns 4,078 shares of the information technology service provider's stock valued at $234,000 after acquiring an additional 3,219 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at $345,000. Finally, ABLE Financial Group LLC boosted its holdings in Cognizant Technology Solutions by 15.0% in the third quarter. ABLE Financial Group LLC now owns 19,152 shares of the information technology service provider's stock valued at $1,100,000 after acquiring an additional 2,503 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTSH. Robert W. Baird set a $68.00 price target on Cognizant Technology Solutions in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated 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. Wedbush restated an "outperform" rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, October 9th. JPMorgan Chase & Co. reduced their price objective on Cognizant Technology Solutions from $74.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, July 24th. Finally, Guggenheim reiterated a "buy" rating and set a $65.00 target price (down from $80.00) on shares of Cognizant Technology Solutions in a report on Monday, July 27th. Ten 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $64.70.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $65.77 on Friday. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The firm has a fifty day moving average of $60.30 and a 200-day moving average of $54.38. The firm has a market capitalization of $29.63 billion, a P/E ratio of 11.34, a PEG ratio of 1.17 and a beta of 0.86. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its 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). The business had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.48 billion. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 5.74 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 18th. Cognizant Technology Solutions's dividend payout ratio is currently 28.39%.

About Cognizant Technology Solutions

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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