Bank of Montreal Can Sells 566,154 Shares of Cognizant Technology Solutions Corporation $CTSH

Bank of Montreal Can reduced its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 51.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 544,669 shares of the information technology service provider’s stock after selling 566,154 shares during the quarter. Bank of Montreal Can’s holdings in Cognizant Technology Solutions were worth $42,501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $74,917,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Cognizant Technology Solutions by 6.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock worth $13,600,000 after acquiring an additional 11,037 shares during the last quarter. LBP AM SA bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $8,541,000. Leo Wealth LLC bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $912,000. Finally, Envestnet Asset Management Inc. increased its stake in Cognizant Technology Solutions by 1.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider’s stock worth $38,253,000 after acquiring an additional 7,105 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total value of $187,950.00. Following the completion of the sale, the chief accounting officer owned 36,630 shares in the company, valued at approximately $2,753,843.40. This trade represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH opened at $74.66 on Thursday. The stock’s 50 day simple moving average is $69.10 and its 200 day simple moving average is $73.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.41. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The firm has a market cap of $36.46 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.47 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.24 annualized dividend and a yield of 1.7%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 30th. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an “outperform” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. UBS Group set a $78.00 price objective on Cognizant Technology Solutions and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $85.19.

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.