Moran Wealth Management LLC Trims Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Moran Wealth Management LLC reduced its stake in Cognizant Technology Solutions by 7.3%, holding 90,373 shares valued at approximately $7.05 million as of the last quarter.
• Cognizant reported Q2 earnings of $1.31 per share, surpassing expectations, with a revenue of $5.25 billion, reflecting an 8.1% increase year-over-year.
• The company recently announced a quarterly dividend of $0.31 per share, resulting in an annual yield of 1.8%, with a payout ratio of 25.20%.

Moran Wealth Management LLC lessened its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,373 shares of the information technology service provider's stock after selling 7,123 shares during the quarter. Moran Wealth Management LLC's holdings in Cognizant Technology Solutions were worth $7,052,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cognizant Technology Solutions by 6.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider's stock worth $13,600,000 after purchasing an additional 11,037 shares during the period. LBP AM SA acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth $8,541,000. Ritholtz Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 21.0% during the 1st quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock worth $806,000 after buying an additional 1,827 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after buying an additional 7,105 shares during the last quarter. Finally, Leo Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth $912,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $67.27 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a 50-day moving average of $69.45 and a two-hundred day moving average of $73.92. The stock has a market cap of $32.85 billion, a P/E ratio of 13.67, a PEG ratio of 1.38 and a beta of 0.95. 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 for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $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, research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a 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 Analyst Weigh In

A number of research firms have recently commented on CTSH. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target for the company. Evercore ISI initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target for the company. JPMorgan Chase & Co. lowered their price target 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. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Cognizant Technology Solutions in a report on Wednesday, October 8th. Five investment 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 company presently has a consensus 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.

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