Mirae Asset Global Investments Co. Ltd. Purchases 11,037 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Mirae Asset Global Investments has increased its holdings in Cognizant Technology Solutions by 6.8%, acquiring an additional 11,037 shares to reach a total of 174,287 shares valued at $13.6 million.
• Major hedge funds, including Goldman Sachs Group and Pacer Advisors, have significantly boosted their stakes in Cognizant, highlighting increased institutional interest in the company.
• Cognizant Technology Solutions recently declared a quarterly dividend of $0.31 per share, resulting in an annualized dividend yield of 1.8% with a payout ratio of 25.20%.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,287 shares of the information technology service provider's stock after buying an additional 11,037 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Cognizant Technology Solutions were worth $13,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. Goldman Sachs Group Inc. increased its position in shares of Cognizant Technology Solutions by 117.5% during 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. Amundi increased its position in shares of Cognizant Technology Solutions by 61.6% during the first quarter. Amundi now owns 4,519,912 shares of the information technology service provider's stock valued at $331,584,000 after buying an additional 1,723,335 shares during the period. Pacer Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 2,585.0% during the first quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock valued at $135,910,000 after buying an additional 1,710,433 shares during the period. Invesco Ltd. increased its position in shares of Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock valued at $923,925,000 after buying an additional 1,422,265 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $90,194,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Friday, July 18th. Wall Street Zen cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Cognizant Technology Solutions in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective 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, August 20th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $86.79.

Cognizant Technology Solutions Stock Up 1.0%

Shares of Cognizant Technology Solutions 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 price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company's 50 day moving average is $70.16 and its 200 day moving average is $74.40. Cognizant Technology Solutions Corporation has a twelve month low of $65.17 and a twelve month high of $90.82. 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 results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share 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 business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm earned $1.17 earnings per share. The company's quarterly revenue 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 anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.31 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 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.

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