MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stake in Cognizant Technology Solutions Corporation $CTSH

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Cognizant Technology Solutions by 4.8%, selling 24,248 shares during the first quarter, with the total remaining shares at 479,145 valued at approximately $36.6 million.
• Institutional investors currently own 92.44% of Cognizant's stock, with several new investments and stake increases from firms like Park Square Financial Group and CoreCap Advisors.
• Analysts have mixed ratings on Cognizant, with a consensus target price of $86.07, reflecting a range of ratings from "buy" to "hold" from various financial institutions.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 479,145 shares of the information technology service provider's stock after selling 24,248 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.10% of Cognizant Technology Solutions worth $36,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its holdings in shares of Cognizant Technology Solutions by 21.0% during the first quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock worth $806,000 after purchasing an additional 1,827 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Cognizant Technology Solutions by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after acquiring an additional 7,105 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Cognizant Technology Solutions by 40.7% during the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after purchasing an additional 8,116 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Cognizant Technology Solutions by 290.9% in the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after purchasing an additional 669 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Cognizant Technology Solutions by 14.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,814 shares of the information technology service provider's stock worth $368,000 after purchasing an additional 591 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Down 1.6%

Cognizant Technology Solutions stock traded down $1.12 during trading on Friday, reaching $69.43. 1,126,652 shares of the company were exchanged, compared to its average volume of 3,818,902. The stock's 50 day simple moving average is $73.02 and its two-hundred day simple moving average is $76.03. The company has a market capitalization of $33.91 billion, a P/E ratio of 14.11, a PEG ratio of 1.44 and a beta of 0.93. 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 52-week low of $65.52 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The business 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 company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio is 25.20%.

Analyst Ratings Changes

Several analysts recently commented on CTSH shares. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Friday, July 18th. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. 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 for the company. JPMorgan Chase & Co. decreased their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and an average price target of $86.79.

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.