Perpetual Ltd Buys 14,039 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Perpetual Ltd increased its stake in Cognizant Technology Solutions by 6.1%, owning 244,570 shares valued at approximately $19.08 million after acquiring additional shares in Q2.
• Cognizant's stock price opened at $66.94, and it experienced a 4.7% decline recently, with a market capitalization of $32.69 billion.
• The company reported a quarterly earnings per share of $1.31, beating estimates, and announced a quarterly dividend of $0.31 per share, reflecting an annual yield of 1.9%.

Perpetual Ltd grew its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,570 shares of the information technology service provider's stock after acquiring an additional 14,039 shares during the period. Perpetual Ltd's holdings in Cognizant Technology Solutions were worth $19,084,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Geneos Wealth Management Inc. boosted its stake in Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock valued at $44,000 after purchasing an additional 309 shares during the period. Pinney & Scofield Inc. bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $55,000. WPG Advisers LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $61,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $66,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 0.3%

Shares of NASDAQ CTSH traded down $0.18 during mid-day trading on Tuesday, hitting $67.98. The company had a trading volume of 629,576 shares, compared to its average volume of 3,895,274. The company has a market capitalization of $33.20 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. Cognizant Technology Solutions Corporation has a one year low of $65.17 and a one year high of $90.82. The firm has a 50-day simple moving average of $71.72 and a two-hundred day simple moving average of $75.18. 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 (NASDAQ:CTSH - Get Free Report) last released its earnings results 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 net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same period last year, the business earned $1.17 earnings per share. The firm's 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, equities analysts expect 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. Stockholders of record on Monday, August 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions's payout ratio is currently 25.20%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target for the company. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Five 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, Cognizant Technology Solutions has an average rating of "Hold" and a consensus target price of $86.79.

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.