Wealth Enhancement Advisory Services LLC Buys 206,966 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Cognizant Technology Solutions by 375.8%, acquiring an additional 206,966 shares, bringing its total ownership to approximately 262,037 shares valued at $21.22 million.
• Several large investors, including Brighton Jones LLC and GTS Securities LLC, have also recently changed their positions in Cognizant, which is now predominantly owned by institutional investors (92.44%).
• Cognizant Technology Solutions announced a quarterly dividend of $0.31, yielding 1.9%, and reported Q2 earnings of $1.31 EPS, exceeding estimates and showing an 8.1% year-over-year revenue increase.

Wealth Enhancement Advisory Services LLC raised its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 375.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 262,037 shares of the information technology service provider's stock after acquiring an additional 206,966 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Cognizant Technology Solutions worth $21,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Conning Inc. boosted its holdings in Cognizant Technology Solutions by 4.4% in the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock worth $271,000 after buying an additional 149 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Cognizant Technology Solutions by 1.7% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after purchasing an additional 149 shares in the last quarter. Private Trust Co. NA increased its position in shares of Cognizant Technology Solutions by 8.6% in the 1st quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider's stock worth $146,000 after purchasing an additional 151 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Cognizant Technology Solutions by 4.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 3,969 shares of the information technology service provider's stock valued at $304,000 after purchasing an additional 154 shares during the period. Finally, Cairn Investment Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 0.3% during the first quarter. Cairn Investment Group Inc. now owns 54,755 shares of the information technology service provider's stock valued at $4,189,000 after acquiring an additional 172 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CTSH shares. Evercore ISI assumed 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 target on the stock. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. 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 target on the stock. JPMorgan Chase & Co. lowered their price target on 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, 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 note on Friday, July 18th. Five research 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 company presently has an average rating of "Hold" and an average price target of $86.79.

Cognizant Technology Solutions Trading Down 4.7%

CTSH traded down $3.32 during trading on Friday, hitting $66.94. 14,562,441 shares of the stock traded hands, compared to its average volume of 4,153,355. The firm has a market capitalization of $32.69 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.39 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. Cognizant Technology Solutions Corporation has a 12-month low of $65.17 and a 12-month high of $90.82. The firm has a 50-day moving average of $71.86 and a 200 day moving average of $75.29.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping 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 analysts' expectations of $5.17 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. Cognizant Technology Solutions's quarterly revenue 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. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

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.