SteelPeak Wealth LLC Invests $2.55 Million in Cognizant Technology Solutions Corporation $CTSH

Key Points

• SteelPeak Wealth LLC has invested approximately $2.55 million in Cognizant Technology Solutions by purchasing 32,686 shares during the second quarter.
• Cognizant has received mixed analyst ratings, with a consensus rating of “Hold” and a target price averaging $86.79.
• The company recently announced a quarterly dividend of $0.31 per share, representing a 1.8% yield and a payout ratio of 25.20%.

SteelPeak Wealth LLC purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,686 shares of the information technology service provider's stock, valued at approximately $2,550,000.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after buying an additional 1,422,265 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Cognizant Technology Solutions by 117.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after buying an additional 3,677,145 shares in the last quarter. Wellington Management Group LLP grew its position in Cognizant Technology Solutions by 9.9% during the first quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider's stock worth $494,061,000 after buying an additional 579,175 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cognizant Technology Solutions by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider's stock worth $461,169,000 after buying an additional 28,646 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cognizant Technology Solutions by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,648,919 shares of the information technology service provider's stock worth $355,642,000 after buying an additional 275,755 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price on the stock. Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cognizant Technology Solutions in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $86.79.

Cognizant Technology Solutions Trading Up 0.2%

NASDAQ CTSH opened at $67.94 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a twelve month low of $65.17 and a twelve month high of $90.82. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The business's fifty day moving average is $69.87 and its 200 day moving average is $74.28.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data 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 company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.Cognizant Technology Solutions's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) 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.

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