Swedbank AB Sells 15,490 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Swedbank AB reduced its position in Cognizant Technology Solutions Corporation by 7.2% during the second quarter, now holding 199,835 shares worth approximately $15.59 million.
• The company reported earnings per share of $1.31 for the last quarter, exceeding analyst expectations, and achieved a revenue of $5.25 billion, up 8.1% year-over-year.
• Cognizant has declared a quarterly dividend of $0.31 per share, resulting in an annualized yield of 1.9%, with a payout ratio of 25.20%.

Swedbank AB lessened its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,835 shares of the information technology service provider's stock after selling 15,490 shares during the quarter. Swedbank AB's holdings in Cognizant Technology Solutions were worth $15,593,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Geneos Wealth Management Inc. boosted its stake in Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock valued at $44,000 after purchasing an additional 309 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $55,000. WPG Advisers LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $61,000. Finally, Zions Bancorporation National Association UT bought a new position in Cognizant Technology Solutions during the first quarter valued at about $66,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $0.41 during mid-day trading on Tuesday, hitting $67.75. 1,132,261 shares of the company were exchanged, compared to its average volume of 3,897,999. Cognizant Technology Solutions Corporation has a 1-year low of $65.17 and a 1-year high of $90.82. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $71.72 and a 200 day moving average of $75.18. The company has a market capitalization of $33.09 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company 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 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. Shareholders 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 1.8%. Cognizant Technology Solutions's payout ratio is currently 25.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CTSH shares. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. 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 report on Wednesday, August 20th. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective for the company. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and a consensus price target of $86.79.

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.