Raymond James Financial Inc. Grows Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Raymond James Financial Inc. increased its stake in Cognizant Technology Solutions by 1.3%, purchasing an additional 4,455 shares, bringing its total ownership to approximately 357,055 shares valued at around $27.3 million.
• The stock has received mixed ratings from analysts, with the consensus rating as "Hold" and an average target price of $86.31.
• Cognizant recently declared a quarterly dividend of $0.31 per share, yielding 1.7%, with a payout ratio of 25.20%.

Raymond James Financial Inc. grew its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,055 shares of the information technology service provider's stock after buying an additional 4,455 shares during the period. Raymond James Financial Inc. owned 0.07% of Cognizant Technology Solutions worth $27,314,000 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. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC increased its position in Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after purchasing an additional 126 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in Cognizant Technology Solutions in the fourth quarter worth $55,000. Optiver Holding B.V. bought a new stake in Cognizant Technology Solutions in the fourth quarter worth $66,000. Finally, Zions Bancorporation National Association UT bought a new stake in Cognizant Technology Solutions in the first quarter worth $66,000. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTSH. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target on the stock. TD Securities boosted their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped 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. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus price target of $86.07.

Cognizant Technology Solutions Trading Down 0.8%

Shares of CTSH traded down $0.59 during trading hours on Thursday, reaching $71.72. 3,330,317 shares of the company traded hands, compared to its average volume of 3,838,167. The firm has a market cap of $35.03 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.49 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month 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 stock's fifty day moving average price is $74.49 and its 200 day moving average price is $77.29.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.7%. Cognizant Technology Solutions's dividend payout ratio is 25.20%.

Cognizant Technology Solutions 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.