Sumitomo Mitsui Trust Group Inc. Grows Position in Cognizant Technology Solutions Corporation $CTSH

Sumitomo Mitsui Trust Group Inc. increased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,417,432 shares of the information technology service provider’s stock after purchasing an additional 38,917 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cognizant Technology Solutions were worth $110,602,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTSH. Hilltop National Bank bought a new position in shares of Cognizant Technology Solutions during the second quarter valued at about $27,000. Geneos Wealth Management Inc. increased its holdings in Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 309 shares during the period. WPG Advisers LLC bought a new position in Cognizant Technology Solutions during the 1st quarter valued at approximately $61,000. Zions Bancorporation National Association UT purchased a new stake in Cognizant Technology Solutions in the 1st quarter worth approximately $66,000. Finally, Golden State Wealth Management LLC grew its position in shares of Cognizant Technology Solutions by 290.9% in the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider’s stock worth $69,000 after buying an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.2%

NASDAQ:CTSH opened at $67.86 on Friday. The firm has a market capitalization of $33.14 billion, a P/E ratio of 13.79, a PEG ratio of 1.41 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 company’s 50-day simple moving average is $69.07 and its 200 day simple moving average is $73.68.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.20%.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent analyst reports. Wells Fargo & Company started coverage on Cognizant Technology Solutions in a report on Tuesday. They set an “overweight” rating and a $82.00 target price for the company. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Citigroup assumed coverage on Cognizant Technology Solutions in a report on Thursday. They set a “neutral” rating and a $75.00 target price on the stock. 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.44.

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.