Russell Investments Group Ltd. Sells 156,075 Shares of Cognizant Technology Solutions Corporation $CTSH

Russell Investments Group Ltd. reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,650,415 shares of the information technology service provider’s stock after selling 156,075 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cognizant Technology Solutions were worth $110,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. High Note Wealth LLC raised its stake in Cognizant Technology Solutions by 22,450.0% in the 3rd quarter. High Note Wealth LLC now owns 451 shares of the information technology service provider’s stock valued at $30,000 after acquiring an additional 449 shares during the period. New Millennium Group LLC bought a new position in Cognizant Technology Solutions during the third quarter worth $34,000. Winnow Wealth LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter valued at $39,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Cognizant Technology Solutions by 267.7% in 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 purchasing an additional 439 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at about $41,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the transaction, the director directly owned 29,729 shares of the company’s stock, valued at $2,504,073.67. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total transaction of $143,527.68. Following the sale, the insider directly owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This trade represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,809 shares of company stock worth $2,010,778 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Stock Down 2.4%

Shares of CTSH opened at $64.65 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12 month low of $60.03 and a 12 month high of $87.03. The firm’s 50 day moving average is $75.76 and its 200-day moving average is $74.16. The stock has a market capitalization of $30.92 billion, a PE ratio of 14.21, a P/E/G ratio of 1.44 and a beta of 1.00.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were given a dividend of $0.33 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 29.01%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Argus raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, February 10th. Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 price target (up from $87.00) on shares of Cognizant Technology Solutions in a report on Wednesday, January 14th. Berenberg Bank set a $107.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Thursday, January 22nd. TD Cowen reaffirmed a “hold” rating and issued a $85.00 target price (up from $84.00) on shares of Cognizant Technology Solutions in a research report on Thursday, February 5th. Finally, UBS Group reiterated a “neutral” rating and set a $82.00 target price (up from $78.00) on shares of Cognizant Technology Solutions in a research note on Monday, December 8th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.17.

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.