Cognizant Technology Solutions Corporation $CTSH Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has decreased its stake in Cognizant Technology Solutions by 19.3%, selling 15,540 shares and now holding 64,950 shares valued at approximately $5.07 million.
• Cognizant recently reported earnings per share of $1.31 for the last quarter, exceeding analysts' expectations, with revenues reaching $5.25 billion and an increase of 8.1% year-over-year.
• The company's board declared a quarterly dividend of $0.31 per share, marking an annualized yield of 1.8%, with a payout ratio of 25.20%.

Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,950 shares of the information technology service provider's stock after selling 15,540 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cognizant Technology Solutions were worth $5,068,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Geneos Wealth Management Inc. grew its holdings in shares of Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock valued at $44,000 after purchasing an additional 309 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $55,000. WPG Advisers LLC bought a new position in Cognizant Technology Solutions during the 1st quarter valued at $61,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $66,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

CTSH has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price objective on 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 downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Evercore ISI initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective on the stock. Guggenheim raised 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, Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target on the stock. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $86.79.

Cognizant Technology Solutions Stock Down 4.7%

Shares of NASDAQ CTSH traded down $3.32 during trading on Friday, hitting $66.94. 14,562,441 shares of the company traded hands, compared to its average volume of 3,603,738. The business's fifty day moving average is $71.86 and its 200 day moving average is $75.41. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.17 and a fifty-two week high of $90.82. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm'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. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.31 per share. The ex-dividend date was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

Cognizant Technology Solutions 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.