Panagora Asset Management Inc. Reduces Stock Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Panagora Asset Management Inc. reduced its stake in Cognizant Technology Solutions by 35.1%, selling 22,076 shares down to 40,777 shares, valued at approximately $3.12 million.
• Cognizant reported a quarterly earnings per share (EPS) of $1.31, exceeding analyst expectations and showing an 8.1% increase in revenue compared to the previous year.
• Analysts have set a consensus price target of $86.07 for Cognizant's stock, with five analysts recommending a "Buy" rating and eleven a "Hold" rating.

Panagora Asset Management Inc. trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 35.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,777 shares of the information technology service provider's stock after selling 22,076 shares during the period. Panagora Asset Management Inc.'s holdings in Cognizant Technology Solutions were worth $3,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in 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 purchasing an additional 1,827 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in 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 purchasing an additional 7,105 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Cognizant Technology Solutions by 40.7% during the 1st 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 in the last quarter. Golden State Wealth Management LLC increased its holdings in Cognizant Technology Solutions by 290.9% during the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock worth $69,000 after purchasing an additional 669 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings 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 in the last quarter. 92.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Guggenheim raised 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. Evercore ISI started coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. reduced their target price 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, Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $86.07.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $0.37 on Friday, hitting $71.82. 3,981,926 shares of the stock traded hands, compared to its average volume of 3,438,767. The business's fifty day moving average is $73.73 and its two-hundred day moving average is $76.46. Cognizant Technology Solutions Corporation has a 12 month low of $65.52 and a 12 month high of $90.82. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.49 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 announced its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the company earned $1.17 earnings per share. Cognizant Technology Solutions'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 analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is 25.20%.

Cognizant Technology Solutions Company 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.