Goldman Sachs Group Inc. Has $520.65 Million Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Goldman Sachs Group Inc. increased its stake in Cognizant Technology Solutions by 117.5% during the first quarter, owning 6,805,893 shares valued at $520.65 million.
• Several institutional investors, including Dimensional Fund Advisors and Deutsche Bank, also raised their holdings in Cognizant, illustrating strong interest from major financial institutions.
• Cognizant reported quarterly earnings of $1.31 per share, exceeding analysts' expectations, with revenues up 8.1% year-over-year, totaling $5.25 billion.

Goldman Sachs Group Inc. grew its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 117.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,805,893 shares of the information technology service provider's stock after buying an additional 3,677,145 shares during the quarter. Goldman Sachs Group Inc. owned 1.38% of Cognizant Technology Solutions worth $520,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Cognizant Technology Solutions by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock worth $461,439,000 after purchasing an additional 392,429 shares in the last quarter. Northern Trust Corp raised its position in Cognizant Technology Solutions by 16.2% during the fourth quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock worth $458,340,000 after acquiring an additional 831,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cognizant Technology Solutions by 7.6% in 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 purchasing an additional 309,919 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Cognizant Technology Solutions by 47.8% in the fourth quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider's stock valued at $254,028,000 after purchasing an additional 1,068,420 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Cognizant Technology Solutions by 98.9% in the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock valued at $210,894,000 after purchasing an additional 1,363,570 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CTSH shares. JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective on the stock. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $85.88.

Cognizant Technology Solutions Stock Up 1.4%

CTSH stock opened at $70.90 on Thursday. The firm has a 50-day moving average price of $77.37 and a 200-day moving average price of $78.46. The stock has a market capitalization of $34.95 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 12 month low of $65.52 and a 12 month high of $90.82. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.17 EPS. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

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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