Gallacher Capital Management LLC Purchases New Stake in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Gallacher Capital Management LLC has made a significant investment of $495,000 in Cognizant Technology Solutions, acquiring 6,343 shares of the company.
• Several major hedge funds have increased their stakes in Cognizant, with Goldman Sachs increasing its holdings by 117.5% in the first quarter.
• Cognizant reported a quarterly earnings per share of $1.31, exceeding analysts' expectations, along with a revenue of $5.25 billion for the same period.

Gallacher Capital Management LLC bought a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,343 shares of the information technology service provider's stock, valued at approximately $495,000.

A number of other institutional investors have also recently bought and sold shares of CTSH. Brighton Jones LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. Quantinno Capital Management LP increased its holdings in shares of Cognizant Technology Solutions by 11.9% during the fourth quarter. Quantinno Capital Management LP now owns 55,511 shares of the information technology service provider's stock valued at $4,269,000 after acquiring an additional 5,913 shares in the last quarter. Royal Bank of Canada grew its holdings in Cognizant Technology Solutions by 34.5% during the fourth quarter. Royal Bank of Canada now owns 789,045 shares of the information technology service provider's stock worth $60,676,000 after buying an additional 202,522 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Cognizant Technology Solutions by 46.8% during the 4th quarter. Toronto Dominion Bank now owns 280,064 shares of the information technology service provider's stock valued at $21,537,000 after buying an additional 89,342 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Cognizant Technology Solutions by 248.0% during the 4th quarter. State of Wyoming now owns 5,861 shares of the information technology service provider's stock valued at $451,000 after purchasing an additional 4,177 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research analyst reports. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft initiated 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. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average target price of $86.79.

Cognizant Technology Solutions Stock Down 0.3%

Shares of CTSH traded down $0.23 during trading hours on Friday, hitting $70.04. The company had a trading volume of 1,117,649 shares, compared to its average volume of 3,822,205. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-week high of $90.82. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a fifty day moving average price of $72.03 and a 200-day moving average price of $75.52.

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 EPS 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 the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior 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, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. 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.