Hawk Ridge Capital Management LP Sells 1,397,911 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Hawk Ridge Capital Management LP significantly reduced its stake in Cognizant Technology Solutions by 91.8%, selling over 1.3 million shares, leaving it with 125,000 shares valued at approximately $9.56 million.
• Despite the reduction in some stakes, other institutional investors like Alyeska Investment Group and Amundi have increased their investments, indicating continued interest in Cognizant.
• Analysts have mixed ratings on Cognizant, with an average price target of $86.07; Guggenheim upgraded the stock to a "buy" with a target of $90.00, while others have assigned "hold" ratings.

Hawk Ridge Capital Management LP trimmed its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 91.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,000 shares of the information technology service provider's stock after selling 1,397,911 shares during the period. Hawk Ridge Capital Management LP's holdings in Cognizant Technology Solutions were worth $9,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. Alyeska Investment Group L.P. acquired a new stake in shares of Cognizant Technology Solutions in the first quarter worth $36,571,000. Amundi raised its holdings in 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 worth $331,584,000 after acquiring an additional 1,723,335 shares during the period. Ancora Advisors LLC lifted its position in Cognizant Technology Solutions by 0.9% during the 1st quarter. Ancora Advisors LLC now owns 90,542 shares of the information technology service provider's stock worth $6,926,000 after acquiring an additional 790 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Cognizant Technology Solutions by 50.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 561,450 shares of the information technology service provider's stock valued at $42,951,000 after acquiring an additional 188,200 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Cognizant Technology Solutions by 9.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 25,414 shares of the information technology service provider's stock valued at $1,944,000 after purchasing an additional 2,178 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several recent analyst reports. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an "outperform" rating and a $100.00 price target for the company. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $86.07.

Cognizant Technology Solutions Stock Up 0.1%

Shares of Cognizant Technology Solutions stock opened at $71.82 on Thursday. The stock has a market cap of $35.08 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The business has a fifty day simple moving average of $73.97 and a 200 day simple moving average of $76.71. 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 Corporation has a 12 month low of $65.52 and a 12 month high of $90.82.

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. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. The business's revenue for the quarter was up 8.1% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend 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.

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