Park Avenue Securities LLC Sells 4,235 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Park Avenue Securities LLC reduced its stake in Cognizant Technology Solutions by 14.4%, selling 4,235 shares in the second quarter.
• As of its latest filing, Park Avenue Securities LLC maintains 25,218 shares valued at approximately $1,968,000.
• Analysts have set a consensus price target of $86.79 for Cognizant Technology Solutions, with ratings ranging from "buy" to "hold".

Park Avenue Securities LLC reduced its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,218 shares of the information technology service provider's stock after selling 4,235 shares during the quarter. Park Avenue Securities LLC's holdings in Cognizant Technology Solutions were worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Conning Inc. raised its holdings in Cognizant Technology Solutions by 4.4% during the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock valued at $271,000 after acquiring an additional 149 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Cognizant Technology Solutions by 1.7% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after purchasing an additional 149 shares in the last quarter. Private Trust Co. NA grew its position in shares of Cognizant Technology Solutions by 8.6% during the first quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider's stock worth $146,000 after purchasing an additional 151 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Cognizant Technology Solutions by 4.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 3,969 shares of the information technology service provider's stock valued at $304,000 after purchasing an additional 154 shares during the period. Finally, Cairn Investment Group Inc. lifted its holdings in Cognizant Technology Solutions by 0.3% in the 1st quarter. Cairn Investment Group Inc. now owns 54,755 shares of the information technology service provider's stock worth $4,189,000 after purchasing an additional 172 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CTSH shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. JPMorgan Chase & Co. reduced their price target 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. Guggenheim raised shares of 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. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Evercore ISI began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $86.79.

Cognizant Technology Solutions Trading Up 1.0%

CTSH stock opened at $68.36 on Thursday. Cognizant Technology Solutions Corporation has a twelve month low of $65.17 and a twelve month high of $90.82. The stock has a market capitalization of $33.39 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.41 and a beta of 0.93. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. The firm's fifty day simple moving average is $71.46 and its two-hundred day simple moving average is $75.09.

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 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 firm had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same period in the previous year, the company earned $1.17 EPS. The firm's revenue for the quarter 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, analysts anticipate 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. Investors of record on Monday, August 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 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.

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