Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Cognizant Technology Solutions by 14.1%, acquiring an additional 24,000 shares during the first quarter.
• Several analysts have issued new price targets for Cognizant, with Guggenheim upgrading the stock to a "buy" and setting a price target of $90.00.
• Cognizant recently announced a quarterly dividend of $0.31, translating to an annualized dividend yield of 1.8%, with a payout scheduled for August 26th.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,420 shares of the information technology service provider's stock after purchasing an additional 24,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Cognizant Technology Solutions were worth $14,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its stake in Cognizant Technology Solutions by 13.3% in the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after buying an additional 1,422,265 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after purchasing an additional 3,677,145 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cognizant Technology Solutions by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock valued at $461,439,000 after purchasing an additional 392,429 shares in the last quarter. Northern Trust Corp grew its stake in Cognizant Technology Solutions by 16.2% in the fourth quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock valued at $458,340,000 after purchasing an additional 831,276 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cognizant Technology Solutions by 7.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,373,164 shares of the information technology service provider's stock valued at $336,296,000 after buying an additional 309,919 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target on the stock. Barclays cut their target price on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded up $0.5240 during mid-day trading on Tuesday, hitting $70.6240. 1,664,118 shares of the company were exchanged, compared to its average volume of 3,847,034. The firm has a market cap of $34.49 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The stock has a 50 day simple moving average of $75.67 and a 200-day simple moving average of $77.83. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous 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, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's payout ratio is presently 25.20%.

Cognizant Technology Solutions 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.