Parkwood LLC Cuts Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Parkwood LLC reduced its stake in Cognizant Technology Solutions Corporation by 29.1%, selling 22,559 shares during the first quarter.
• Cognizant reported earnings of $1.31 per share for the quarter, exceeding expectations and showing an annual revenue increase of 8.1%.
• The company announced a quarterly dividend of $0.31 per share, providing an annualized dividend yield of 1.7%.

Parkwood LLC reduced its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,075 shares of the information technology service provider's stock after selling 22,559 shares during the quarter. Parkwood LLC's holdings in Cognizant Technology Solutions were worth $4,213,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth $36,000. CoreCap Advisors LLC increased its stake in Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after buying an additional 126 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth $55,000. WPG Advisers LLC purchased a new stake in Cognizant Technology Solutions in the 1st quarter worth $61,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Cognizant Technology Solutions in the 1st quarter worth $66,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded down $0.41 during trading hours on Tuesday, reaching $70.78. The company's stock had a trading volume of 3,572,422 shares, compared to its average volume of 3,531,859. The firm has a 50 day moving average price of $73.40 and a 200-day moving average price of $76.17. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. 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 stock has a market cap of $34.57 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.48 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share 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 for 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 business'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. On average, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

Analyst Ratings Changes

CTSH has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price on the stock. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target on the stock. Wall Street Zen cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. decreased 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 research note on Wednesday, August 20th. Finally, Guggenheim upgraded 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 note on Friday, July 18th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of "Hold" and an average price target of $86.07.

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.