Sound Income Strategies LLC acquired a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) in the third quarter, HoldingsChannel.com reports. The firm acquired 117,489 shares of the information technology service provider’s stock, valued at approximately $7,051,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Wedmont Private Capital bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth $217,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Cognizant Technology Solutions by 59.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 224,281 shares of the information technology service provider’s stock worth $12,883,000 after purchasing an additional 83,763 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 108.7% during the third quarter. Farther Finance Advisors LLC now owns 15,403 shares of the information technology service provider’s stock valued at $885,000 after purchasing an additional 8,024 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Cognizant Technology Solutions by 289.6% during the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock valued at $166,897,000 after buying an additional 2,159,704 shares during the last quarter. Finally, City Center Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the third quarter valued at $277,000. 92.44% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Daiwa Securities Group boosted their target price on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Nomura reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. TD Cowen reissued a “hold” rating and set a $54.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Finally, Morgan Stanley restated a “negative” rating and set a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.43.
Cognizant Technology Solutions Stock Performance
Cognizant Technology Solutions stock traded down $0.81 during mid-day trading on Friday, reaching $59.20. 5,314,858 shares of the stock traded hands, compared to its average volume of 8,052,174. Cognizant Technology Solutions Corporation has a 12-month low of $37.08 and a 12-month high of $87.03. The business’s 50-day moving average is $59.80 and its 200-day moving average is $54.37. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market capitalization of $26.67 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.74 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.39%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.
The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.
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