State of New Jersey Common Pension Fund D Has $12.47 Million Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Cognizant Technology Solutions by 8.3%, ending with 163,051 shares worth approximately $12.47 million.
• Cognizant recently reported better-than-expected quarterly earnings, with EPS of $1.31 and revenue of $5.25 billion, showing an 8.1% year-over-year increase.
• The company announced a quarterly dividend of $0.31 per share, translating to an annualized dividend yield of 1.8%.

State of New Jersey Common Pension Fund D decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,051 shares of the information technology service provider's stock after selling 14,665 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Cognizant Technology Solutions were worth $12,473,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its holdings in shares of 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 valued at $55,000 after buying an additional 126 shares during the period. Connecticut Wealth Management LLC lifted its position in Cognizant Technology Solutions by 0.8% in the 4th quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider's stock valued at $1,357,000 after acquiring an additional 138 shares in the last quarter. Conning Inc. boosted its stake in Cognizant Technology Solutions by 4.4% in the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock worth $271,000 after purchasing an additional 149 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Cognizant Technology Solutions by 1.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after purchasing an additional 149 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in Cognizant Technology Solutions by 8.6% during the 1st quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider's stock worth $146,000 after purchasing an additional 151 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 0.5%

Shares of NASDAQ:CTSH traded down $0.37 during trading on Wednesday, hitting $70.49. 3,492,850 shares of the company were exchanged, compared to its average volume of 3,853,912. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.46 and a beta of 0.90. 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 firm has a fifty day moving average price of $75.47 and a two-hundred day moving average price of $77.78.

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. The business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm's revenue was up 8.1% on a year-over-year basis. During the same period last year, the business 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. As a group, research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is presently 25.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTSH. Barclays cut their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price target for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. 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 target for the company. Finally, 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 objective on the stock. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and an average target price of $86.31.

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.