35,324 Shares in Cognizant Technology Solutions Corporation $CTSH Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the third quarter, HoldingsChannel.com reports. The fund acquired 35,324 shares of the information technology service provider’s stock, valued at approximately $2,571,000.

A number of other large investors have also made changes to their positions in CTSH. Vanguard Group Inc. lifted its position in Cognizant Technology Solutions by 1.3% during the second quarter. Vanguard Group Inc. now owns 59,854,530 shares of the information technology service provider’s stock worth $4,670,449,000 after buying an additional 746,732 shares in the last quarter. State Street Corp boosted its position in shares of Cognizant Technology Solutions by 0.6% during the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after acquiring an additional 157,427 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions by 2.2% in the second 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 during the period. Geode Capital Management LLC increased its position in Cognizant Technology Solutions by 1.5% during the second quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock worth $1,091,391,000 after purchasing an additional 206,532 shares during the last quarter. Finally, Norges Bank purchased a new position in Cognizant Technology Solutions during the second quarter worth about $487,526,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.5%

CTSH stock opened at $84.18 on Friday. The company’s 50 day moving average price is $81.71 and its 200 day moving average price is $74.72. The firm has a market capitalization of $40.63 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.62 and a beta of 0.96. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, equities research analysts anticipate 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 Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.77%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $82.00 price objective (up from $78.00) on shares of Cognizant Technology Solutions in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. TD Cowen reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Friday, January 9th. Guggenheim restated a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Finally, Susquehanna reiterated a “positive” rating and issued a $98.00 price objective on shares of Cognizant Technology Solutions in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.22.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 3,125 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $80.01, for a total value of $250,031.25. Following the completion of the sale, the chief executive officer directly owned 75,454 shares of the company’s stock, valued at $6,037,074.54. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $83.52, for a total value of $584,640.00. Following the completion of the sale, the director directly owned 47,729 shares of the company’s stock, valued at $3,986,326.08. The trade was a 12.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,206 shares of company stock worth $2,505,231 over the last three months. Insiders own 0.32% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.