Gallacher Capital Management LLC Invests $495,000 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 acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,343 shares of the information technology service provider's stock, valued at approximately $495,000.

Several other hedge funds also recently modified their holdings of CTSH. Goldman Sachs Group Inc. increased its stake in shares of Cognizant Technology Solutions by 117.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock valued at $520,651,000 after acquiring an additional 3,677,145 shares in the last quarter. Amundi increased its stake in shares of Cognizant Technology Solutions by 61.6% in the 1st quarter. Amundi now owns 4,519,912 shares of the information technology service provider's stock valued at $331,584,000 after acquiring an additional 1,723,335 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Cognizant Technology Solutions by 2,585.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock valued at $135,910,000 after acquiring an additional 1,710,433 shares in the last quarter. Invesco Ltd. increased its stake in shares of Cognizant Technology Solutions by 13.3% in the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock valued at $923,925,000 after acquiring an additional 1,422,265 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at $90,194,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $69.17 on Monday. Cognizant Technology Solutions Corporation has a 1 year low of $65.52 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.44 and a beta of 0.93. The company has a fifty day moving average price of $72.83 and a 200-day moving average price of $75.80.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS 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. Investors of record on Monday, August 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's payout ratio is 25.20%.

Analyst Upgrades and Downgrades

CTSH has been the subject of several research analyst reports. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective for the company. Wall Street Zen downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lowered 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 report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective on the stock. Finally, Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $86.79.

About Cognizant Technology Solutions

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.

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