Rafferty Asset Management LLC Has $23.31 Million Holdings in Cognizant Technology Solutions Corporation $CTSH

Rafferty Asset Management LLC grew its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,553 shares of the information technology service provider’s stock after buying an additional 30,474 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Cognizant Technology Solutions worth $23,310,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CTSH. Aster Capital Management DIFC Ltd acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $79,000. Handelsbanken Fonder AB lifted its holdings in shares of Cognizant Technology Solutions by 19.6% in the third quarter. Handelsbanken Fonder AB now owns 150,131 shares of the information technology service provider’s stock valued at $10,069,000 after purchasing an additional 24,612 shares in the last quarter. Andra AP fonden lifted its holdings in shares of Cognizant Technology Solutions by 32.0% in the third quarter. Andra AP fonden now owns 709,449 shares of the information technology service provider’s stock valued at $47,583,000 after purchasing an additional 172,100 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Cognizant Technology Solutions by 4.3% in the third quarter. DNB Asset Management AS now owns 100,562 shares of the information technology service provider’s stock worth $6,745,000 after buying an additional 4,157 shares during the period. Finally, Westpac Banking Corp grew its holdings in shares of Cognizant Technology Solutions by 20.9% during the third quarter. Westpac Banking Corp now owns 56,569 shares of the information technology service provider’s stock valued at $3,794,000 after buying an additional 9,779 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Activity

In other news, insider Surya Gummadi sold 1,728 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total value of $143,527.68. Following the completion of the sale, the insider directly owned 25,641 shares in the company, valued at approximately $2,129,741.46. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Patsalos-Fox sold 7,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $83.52, for a total transaction of $584,640.00. Following the completion of the transaction, the director owned 47,729 shares in the company, valued at $3,986,326.08. The trade was a 12.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,434 shares of company stock worth $2,460,809. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTSH shares. Weiss Ratings raised Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Citigroup reissued a “neutral” rating and issued a $86.00 price target (up from $75.00) on shares of Cognizant Technology Solutions in a research report on Thursday, January 22nd. Argus upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, February 10th. 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 research note on Monday, December 8th. Finally, William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, November 21st. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $90.17.

Cognizant Technology Solutions Stock Down 0.8%

Cognizant Technology Solutions stock opened at $64.43 on Friday. The company has a market capitalization of $30.81 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.40 and a beta of 0.95. Cognizant Technology Solutions Corporation has a 1-year low of $60.03 and a 1-year high of $87.03. The firm’s fifty day simple moving average is $78.21 and its 200-day simple moving average is $74.36. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.32 by $0.03. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.0%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is 29.01%.

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.