Strs Ohio Makes New $2.83 Million Investment in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Strs Ohio has acquired a new stake in Cognizant Technology Solutions, purchasing 37,044 shares valued at approximately $2,834,000 in the first quarter.
• Various institutional investors have increased their holdings, with Goldman Sachs increasing its stake by 117.5% to own over 6.8 million shares valued at $520.65 million.
• Cognizant recently reported earnings of $1.31 per share, outperforming estimates, and announced a quarterly dividend of $0.31 per share with a yield of 1.8%.

Strs Ohio acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 37,044 shares of the information technology service provider's stock, valued at approximately $2,834,000.

A number of other hedge funds also recently modified their holdings of CTSH. Ritholtz Wealth Management grew its position in Cognizant Technology Solutions by 21.0% in the first quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock valued at $806,000 after acquiring an additional 1,827 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Cognizant Technology Solutions by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after acquiring an additional 7,105 shares during the period. Janney Montgomery Scott LLC increased its holdings in Cognizant Technology Solutions by 40.7% in the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after purchasing an additional 8,116 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of Cognizant Technology Solutions by 129.9% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 106,200 shares of the information technology service provider's stock valued at $8,124,000 after acquiring an additional 60,000 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 valued at $355,642,000 after acquiring an additional 275,755 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH traded down $3.32 during trading on Friday, reaching $66.94. The company's stock had a trading volume of 14,562,441 shares, compared to its average volume of 3,603,738. The stock has a market capitalization of $32.69 billion, a PE ratio of 13.61, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a fifty day moving average of $71.86 and a 200 day moving average of $75.41. Cognizant Technology Solutions Corporation has a one year low of $65.17 and a one year high of $90.82.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.31 per share. The ex-dividend date was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. Cognizant Technology Solutions's dividend payout ratio is 25.20%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTSH shares. Evercore ISI started coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price target for the company. JPMorgan Chase & Co. cut 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 cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on 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. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and a consensus price target of $86.79.

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.