Cognizant Technology Solutions Corporation $CTSH Shares Acquired by DNB Asset Management AS

DNB Asset Management AS lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,405 shares of the information technology service provider’s stock after purchasing an additional 3,738 shares during the quarter. DNB Asset Management AS’s holdings in Cognizant Technology Solutions were worth $7,522,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised 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 worth $520,651,000 after buying an additional 3,677,145 shares during the last quarter. Amundi raised its holdings in shares of Cognizant Technology Solutions by 61.6% during the first quarter. Amundi now owns 4,519,912 shares of the information technology service provider’s stock worth $331,584,000 after purchasing an additional 1,723,335 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Cognizant Technology Solutions by 152.7% during the second quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock valued at $211,332,000 after purchasing an additional 1,636,636 shares during the period. Invesco Ltd. boosted its holdings in Cognizant Technology Solutions by 13.3% in the first 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 last quarter. Finally, Nuveen LLC acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth about $90,194,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 5.0%

Shares of NASDAQ:CTSH opened at $75.98 on Friday. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. 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 business’s 50 day moving average price is $69.54 and its 200-day moving average price is $73.72.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is presently 28.77%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total transaction of $187,950.00. Following the completion of the transaction, the chief accounting officer owned 36,630 shares of the company’s stock, valued at $2,753,843.40. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTSH. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Wednesday. William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a research report on Thursday, October 30th. Wells Fargo & Company lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Royal Bank Of Canada lowered their price target on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.19.

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.