Quarry LP Takes $297,000 Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Quarry LP acquired a new stake in Cognizant Technology Solutions, purchasing 3,883 shares valued at approximately $297,000 in the first quarter.
• Institutional investors own 92.44% of Cognizant's stock, with several firms increasing their positions by notable percentages during the same period.
• Cognizant Technology Solutions reported a net margin of 11.89% and a return on equity of 16.77%, with quarterly revenue of $5.25 billion outperforming analyst estimates.

Quarry LP bought a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,883 shares of the information technology service provider's stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. CoreCap Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 21.5% during the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after buying an additional 126 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $55,000. WPG Advisers LLC purchased a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $61,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $66,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CTSH shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. 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 research note on Friday, July 18th. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $86.07.

Cognizant Technology Solutions Stock Up 0.1%

CTSH stock traded up $0.04 during trading on Wednesday, reaching $71.82. The stock had a trading volume of 3,186,547 shares, compared to its average volume of 3,699,046. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $35.08 billion, a P/E ratio of 14.60, a PEG ratio of 1.50 and a beta of 0.93. The firm has a fifty day moving average price of $73.97 and a 200 day moving average price of $76.71.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The firm'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, equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current 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 $0.31 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. Cognizant Technology Solutions's payout ratio 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.