HighTower Advisors LLC Cuts Stake in Cognizant Technology Solutions Corporation $CTSH

HighTower Advisors LLC trimmed its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,691 shares of the information technology service provider's stock after selling 52,074 shares during the quarter. HighTower Advisors LLC's holdings in Cognizant Technology Solutions were worth $10,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC raised its position in shares of Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after purchasing an additional 126 shares during the period. Pinney & Scofield Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $55,000. Optiver Holding B.V. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $66,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $66,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CTSH shares. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Friday, July 18th. TD Securities boosted their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price 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. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their target price for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Finally, Evercore ISI started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and a consensus price target of $86.31.

Cognizant Technology Solutions Price Performance

CTSH stock traded up $1.7860 during midday trading on Friday, reaching $72.8660. The company had a trading volume of 871,420 shares, compared to its average volume of 3,823,478. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. Cognizant Technology Solutions Corporation has a 1 year low of $65.52 and a 1 year high of $90.82. The company has a market capitalization of $35.59 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.47 and a beta of 0.90. The firm has a 50-day moving average price of $75.08 and a 200-day moving average price of $77.65.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping 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 business 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 EPS. The business's quarterly revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's payout ratio is currently 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.