Chevy Chase Trust Holdings LLC Has $20.32 Million Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Chevy Chase Trust Holdings LLC increased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 260,424 shares of the information technology service provider’s stock after acquiring an additional 1,020 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Cognizant Technology Solutions were worth $20,321,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Cognizant Technology Solutions by 6.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock valued at $13,600,000 after acquiring an additional 11,037 shares during the period. LBP AM SA bought a new position in Cognizant Technology Solutions during the second quarter valued at about $8,541,000. Leo Wealth LLC bought a new position in Cognizant Technology Solutions during the second quarter valued at about $912,000. Envestnet Asset Management Inc. increased its stake in Cognizant Technology Solutions by 1.4% during the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider’s stock valued at $38,253,000 after acquiring an additional 7,105 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Cognizant Technology Solutions by 40.7% during the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider’s stock valued at $2,146,000 after acquiring an additional 8,116 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTSH shares. Guggenheim upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a “hold” rating and a $80.00 price objective on the stock. Evercore ISI started coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.79.

Cognizant Technology Solutions Stock Up 0.9%

Shares of CTSH opened at $66.08 on Friday. The company has a market capitalization of $32.27 billion, a P/E ratio of 13.43, a PEG ratio of 1.37 and a beta of 0.95. 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 one year low of $65.15 and a one year high of $90.82. The business’s 50 day simple moving average is $69.23 and its 200-day simple moving average is $73.70.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results 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 business 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%.Cognizant Technology Solutions’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $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 predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued 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%.

About Cognizant Technology Solutions

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.