Lecap Asset Management Ltd. Sells 45,655 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Lecap Asset Management Ltd. significantly reduced its holdings in Cognizant Technology Solutions by 91%, selling 45,655 shares and reducing its position to 4,522 shares valued at $353,000.
• Cognizant reported a quarterly EPS of $1.31, surpassing estimates by $0.05, and a revenue of $5.25 billion, which is an increase of 8.1% from the previous year.
• The company announced a quarterly dividend of $0.31, resulting in an annualized yield of 1.8% and a payout ratio of 25.20%.

Lecap Asset Management Ltd. decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 91.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,522 shares of the information technology service provider's stock after selling 45,655 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Cognizant Technology Solutions were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTSH. Invesco Ltd. grew its position in shares of Cognizant Technology Solutions by 13.3% during the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after buying an additional 1,422,265 shares during the period. Goldman Sachs Group Inc. lifted its stake in Cognizant Technology Solutions by 117.5% in the first 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 buying an additional 3,677,145 shares during the period. Wellington Management Group LLP grew its position in shares of Cognizant Technology Solutions by 9.9% during the 1st quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider's stock worth $494,061,000 after buying an additional 579,175 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cognizant Technology Solutions by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider's stock valued at $461,169,000 after acquiring an additional 28,646 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cognizant Technology Solutions by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,648,919 shares of the information technology service provider's stock valued at $355,642,000 after acquiring an additional 275,755 shares during the period. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.0%

CTSH stock opened at $67.66 on Friday. The company has a market cap of $33.05 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.39 and a beta of 0.95. Cognizant Technology Solutions Corporation has a twelve month low of $65.17 and a twelve month high of $90.82. The business has a 50 day moving average price of $70.16 and a two-hundred day moving average price of $74.44. 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 (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The company 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 firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders 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 dividend payout ratio is presently 25.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTSH shares. 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cognizant Technology Solutions in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective 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 on the stock in a research note on Friday, July 18th. Finally, Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $86.79.

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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