Penserra Capital Management LLC Sells 8,200 Shares of Cognizant Technology Solutions Corporation $CTSH

Penserra Capital Management LLC reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 75.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,709 shares of the information technology service provider’s stock after selling 8,200 shares during the quarter. Penserra Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CTSH. Pzena Investment Management LLC raised 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 acquiring an additional 375,619 shares in the last quarter. Invesco Ltd. increased its position in Cognizant Technology Solutions by 13.3% during 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 during the period. Goldman Sachs Group Inc. increased its position in Cognizant Technology Solutions by 117.5% during 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 during the period. Wellington Management Group LLP lifted its position in shares of 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 worth $494,061,000 after purchasing an additional 579,175 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cognizant Technology Solutions by 0.5% during the first 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. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CTSH. JPMorgan Chase & Co. boosted their price objective on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. UBS Group set a $78.00 price target on Cognizant Technology Solutions and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price objective on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.19.

Cognizant Technology Solutions Stock Up 1.5%

Cognizant Technology Solutions stock opened at $74.20 on Thursday. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The business has a fifty day moving average price of $69.23 and a 200-day moving average price of $73.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.41. The stock has a market capitalization of $35.81 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.47 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Insiders Place Their Bets

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

Cognizant Technology Solutions 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.