Swedbank AB Trims Stock Position in 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 reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also recently made changes to their positions in the business. Voya Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions by 2.1% during the first quarter. Voya Investment Management LLC now owns 1,225,265 shares of the information technology service provider's stock valued at $93,733,000 after buying an additional 25,462 shares during the last quarter. Modern Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $345,000. Strs Ohio bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $2,834,000. Jacobi Capital Management LLC lifted its position in shares of Cognizant Technology Solutions by 3.0% during the first quarter. Jacobi Capital Management LLC now owns 7,497 shares of the information technology service provider's stock valued at $573,000 after purchasing an additional 219 shares in the last quarter. Finally, Chelsea Counsel Co. bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $480,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $3.32 during midday trading on Friday, hitting $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 fifty day moving average price of $71.86 and a 200 day moving average price of $75.41. Cognizant Technology Solutions Corporation has a one year low of $65.17 and a one year high of $90.82. 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 market capitalization of $32.69 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.46 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (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 for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company's quarterly revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTSH shares. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target on the stock. 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. Finally, Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the 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 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.