Swedbank AB Sells 8,475 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Swedbank AB reduced its stake in Cognizant Technology Solutions by 3.8%, selling 8,475 shares, leaving them with 215,325 shares valued at approximately $16.47 million.
• The company recently reported a Q2 EPS of $1.31, beating expectations, and had a revenue of $5.25 billion, which was up 8.1% year-over-year.
• Cognizant declared a quarterly dividend of $0.31 per share, resulting in an annualized amount of $1.24 with a yield of 1.8%.

Swedbank AB lessened its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,325 shares of the information technology service provider's stock after selling 8,475 shares during the quarter. Swedbank AB's holdings in Cognizant Technology Solutions were worth $16,472,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTSH. Brighton Jones LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $214,000. Quantinno Capital Management LP grew its stake in Cognizant Technology Solutions by 11.9% in the 4th quarter. Quantinno Capital Management LP now owns 55,511 shares of the information technology service provider's stock valued at $4,269,000 after buying an additional 5,913 shares during the last quarter. Royal Bank of Canada grew its stake in Cognizant Technology Solutions by 34.5% in the 4th quarter. Royal Bank of Canada now owns 789,045 shares of the information technology service provider's stock valued at $60,676,000 after buying an additional 202,522 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Cognizant Technology Solutions by 46.8% in the 4th quarter. Toronto Dominion Bank now owns 280,064 shares of the information technology service provider's stock valued at $21,537,000 after purchasing an additional 89,342 shares during the period. Finally, State of Wyoming boosted its holdings in Cognizant Technology Solutions by 248.0% in the 4th quarter. State of Wyoming now owns 5,861 shares of the information technology service provider's stock valued at $451,000 after purchasing an additional 4,177 shares during the period. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

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

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $69.17 on Monday. The company's 50 day moving average is $72.83 and its 200-day moving average is $75.80. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month 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 firm has a market cap of $33.78 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93.

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

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.31 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.8%. 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.

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