Modern Wealth Management LLC Makes New $345,000 Investment in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Modern Wealth Management LLC has made a new investment of approximately $345,000 in Cognizant Technology Solutions, acquiring 4,512 shares during the first quarter.
• Analysts have mixed ratings on Cognizant Technology Solutions, with a consensus rating of "Hold" and an average price target of $86.79.
• Cognizant recently announced a quarterly dividend of $0.31 per share, resulting in an annualized dividend yield of 1.8%.

Modern Wealth Management LLC purchased a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,512 shares of the information technology service provider's stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after acquiring an additional 3,677,145 shares during the period. Amundi grew its holdings in Cognizant Technology Solutions by 61.6% during the 1st quarter. Amundi now owns 4,519,912 shares of the information technology service provider's stock worth $331,584,000 after acquiring an additional 1,723,335 shares during the period. Pacer Advisors Inc. grew its holdings in Cognizant Technology Solutions by 2,585.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock worth $135,910,000 after acquiring an additional 1,710,433 shares during the period. Invesco Ltd. boosted 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 purchasing an additional 1,422,265 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth about $90,194,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded down $3.32 during mid-day trading on Friday, reaching $66.94. 14,562,441 shares of the stock traded hands, compared to its average volume of 3,603,738. The firm has a fifty day moving average price of $71.86 and a 200 day moving average price of $75.41. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 1 year low of $65.17 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data 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. 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 EPS. The firm's 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. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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 yield of 1.9%. Cognizant Technology Solutions's payout ratio is currently 25.20%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTSH. 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. 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 target price on the stock. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price on the stock. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock 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.