Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,324,239 shares of the information technology service provider’s stock after acquiring an additional 138,191 shares during the quarter. Retirement Systems of Alabama’s holdings in Cognizant Technology Solutions were worth $88,817,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $27,000. NewSquare Capital LLC increased its stake in Cognizant Technology Solutions by 71.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after buying an additional 153 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Cognizant Technology Solutions by 267.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock valued at $40,000 after acquiring an additional 439 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $41,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Cognizant Technology Solutions by 118.8% in 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. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTSH. Citigroup reaffirmed a “neutral” rating and issued a $86.00 price objective (up previously from $75.00) on shares of Cognizant Technology Solutions in a research note on Thursday. Guggenheim reiterated a “buy” rating and issued a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Royal Bank Of Canada cut their price target on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company restated an “overweight” rating and set a $98.00 price target (up previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $98.00 price target on shares of Cognizant Technology Solutions in a research report on Friday. Eight analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.22.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $84.18 on Friday. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week high of $90.82. The stock has a market capitalization of $40.63 billion, a PE ratio of 19.53, a PEG ratio of 1.61 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The stock’s fifty day moving average is $81.71 and its 200-day moving average is $74.68.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.09. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities research analysts expect 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 was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at $2,891,920. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the completion of the transaction, the chief executive officer owned 75,209 shares in the company, valued at $6,397,277.54. The trade was a 3.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,206 shares of company stock valued at $2,505,231. Company insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Profile

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.