Driehaus Capital Management LLC Sells 25,855 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Driehaus Capital Management LLC reduced its stake in Cognizant Technology Solutions by 39.0%, bringing its ownership to 40,500 shares worth approximately $3.1 million.
• The company reported quarterly earnings of $1.31 per share, exceeding analyst expectations of $1.26, with revenue of $5.25 billion representing an 8.1% increase from the previous year.
• Cognizant recently announced a quarterly dividend of $0.31 per share, indicating a 1.7% dividend yield and a payout ratio of 25.20%.

Driehaus Capital Management LLC decreased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 39.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,500 shares of the information technology service provider's stock after selling 25,855 shares during the quarter. Driehaus Capital Management LLC's holdings in Cognizant Technology Solutions were worth $3,098,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $36,000. CoreCap Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after purchasing an additional 126 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $55,000. WPG Advisers LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at approximately $61,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cognizant Technology Solutions during the first quarter valued at approximately $66,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTSH. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a report on Friday, July 18th. Evercore ISI initiated coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target for the company. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $86.07.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.22 on Thursday, hitting $71.60. 2,102,273 shares of the company's stock were exchanged, compared to its average volume of 3,811,746. 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 stock has a fifty day moving average of $73.97 and a two-hundred day moving average of $76.71. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The firm has a market cap of $34.97 billion, a PE ratio of 14.55, a P/E/G ratio of 1.50 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is 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.