SP Asset Management LLC Decreases Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

SP Asset Management LLC decreased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,973 shares of the information technology service provider’s stock after selling 1,810 shares during the period. SP Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $3,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in Cognizant Technology Solutions by 2.2% in the 2nd quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock valued at $1,361,677,000 after purchasing an additional 375,619 shares in the last quarter. Invesco Ltd. lifted its holdings in Cognizant Technology Solutions by 13.3% in the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock valued at $923,925,000 after purchasing an additional 1,422,265 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cognizant Technology Solutions by 117.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider’s stock valued at $520,651,000 after purchasing an additional 3,677,145 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cognizant Technology Solutions by 9.9% in the 1st quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider’s stock valued at $494,061,000 after purchasing an additional 579,175 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cognizant Technology Solutions by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider’s stock valued at $461,169,000 after purchasing an additional 28,646 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 2.5%

Shares of CTSH opened at $74.66 on Thursday. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82. The company has a market capitalization of $36.46 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.47 and a beta of 0.95. The stock has a fifty day simple moving average of $69.10 and a two-hundred day simple moving average of $73.75. The company has a quick ratio of 2.41, a current ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, equities analysts forecast 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 will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.77%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a report on Thursday, October 30th. Evercore ISI assumed coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price objective on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, UBS Group set a $78.00 target price on Cognizant Technology Solutions and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $85.19.

Insider Activity

In related news, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total transaction of $187,950.00. Following the completion of the sale, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at approximately $2,753,843.40. This trade represents a 6.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

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.