Public Employees Retirement System of Ohio Sells 5,227 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• The Public Employees Retirement System of Ohio decreased its holdings in Cognizant Technology Solutions by 2.8%, selling 5,227 shares and retaining a total of 180,429 shares valued at approximately $14.08 million.
• Analysts have mixed ratings for Cognizant Technology Solutions, with a consensus rating of "Hold" and a price target of $86.79, while some firms have issued "outperform" or "buy" ratings with price targets ranging from $80 to $100.
• Cognizant recently announced a quarterly dividend of $0.31, representing an annualized payout of $1.24 and a dividend yield of 1.9%, with a payout ratio of 25.20%.

Public Employees Retirement System of Ohio cut its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,429 shares of the information technology service provider's stock after selling 5,227 shares during the period. Public Employees Retirement System of Ohio's holdings in Cognizant Technology Solutions were worth $14,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Geneos Wealth Management Inc. raised its position in Cognizant Technology Solutions by 118.8% during the first 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. WPG Advisers LLC purchased a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $61,000. Zions Bancorporation National Association UT purchased a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $66,000. Finally, Golden State Wealth Management LLC raised its position in Cognizant Technology Solutions by 290.9% during the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after purchasing an additional 669 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTSH. Deutsche Bank Aktiengesellschaft began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective on the stock. Evercore ISI began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $86.79.

Cognizant Technology Solutions Trading Up 0.5%

Shares of NASDAQ CTSH opened at $66.98 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The business's 50 day moving average price is $71.11 and its 200-day moving average price is $74.86. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.17 and a fifty-two week high of $90.82. The company has a market cap of $32.71 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.39 and a beta of 0.93.

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 (EPS) for the quarter, topping 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 company had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the prior year, the firm 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. On average, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.9%. 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.

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