TD Asset Management Inc Grows Stake in Cognizant Technology Solutions Corporation $CTSH

Key Points

• TD Asset Management Inc increased its stake in Cognizant Technology Solutions Corporation by 9.9%, acquiring a total of 336,464 shares worth approximately $26.25 million.
• Various institutional investors have also adjusted their positions in Cognizant, with firms like Sequoia Financial Advisors LLC increasing their holdings by 34.1% during the second quarter.
• Research analysts have mixed opinions on the stock; it has a prevailing rating of "Hold" and an average price target of $86.79.

TD Asset Management Inc lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,464 shares of the information technology service provider's stock after purchasing an additional 30,425 shares during the quarter. TD Asset Management Inc owned about 0.07% of Cognizant Technology Solutions worth $26,254,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC purchased a new position in Cognizant Technology Solutions during the second quarter worth about $204,000. Hudson Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 1.0% during the second quarter. Hudson Capital Management LLC now owns 60,092 shares of the information technology service provider's stock worth $4,689,000 after purchasing an additional 588 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of Cognizant Technology Solutions by 5.4% during the second quarter. NorthRock Partners LLC now owns 8,055 shares of the information technology service provider's stock worth $628,000 after purchasing an additional 414 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Cognizant Technology Solutions by 3.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,632 shares of the information technology service provider's stock worth $674,000 after purchasing an additional 295 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Cognizant Technology Solutions by 34.1% in the second quarter. Sequoia Financial Advisors LLC now owns 18,275 shares of the information technology service provider's stock valued at $1,426,000 after purchasing an additional 4,647 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTSH. Weiss Ratings reissued a "hold (c+)" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, October 8th. 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 research note on Friday, July 18th. Evercore ISI initiated coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $86.79.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $66.08 on Friday. The firm has a fifty day simple moving average of $69.23 and a two-hundred day simple moving average of $73.72. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The company has a market capitalization of $32.27 billion, a PE ratio of 13.43, a P/E/G ratio of 1.36 and a beta of 0.95. 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 (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm 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%.The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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