19,226 Cognizant Technology Solutions Corporation $CTSH Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 217,517 shares of the information technology service provider’s stock after selling 19,226 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Cognizant Technology Solutions were worth $12,667,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its position in shares of Cognizant Technology Solutions by 925.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock worth $141,456,000 after purchasing an additional 3,296,205 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Cognizant Technology Solutions by 14.9% in the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after buying an additional 2,633,683 shares during the last quarter. Artemis Investment Management LLP raised its stake in Cognizant Technology Solutions by 289.6% in 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 in the last quarter. Lazard Asset Management LLC raised its stake in Cognizant Technology Solutions by 752.1% in the first quarter. Lazard Asset Management LLC now owns 1,317,166 shares of the information technology service provider’s stock valued at $80,808,000 after buying an additional 1,162,580 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Cognizant Technology Solutions during the 2nd quarter worth about $33,117,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird set a $68.00 price objective on Cognizant Technology Solutions in a research report on Thursday, July 30th. Susquehanna set a $82.00 target price on Cognizant Technology Solutions and gave the stock a “positive” rating in a research report on Thursday, July 30th. Morgan Stanley restated a “negative” rating and set a $51.00 target price (up from $44.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Guggenheim reaffirmed a “buy” rating and issued a $65.00 price target (down from $80.00) on shares of Cognizant Technology Solutions in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $64.43.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $59.68 on Tuesday. The company has a fifty day moving average of $59.89 and a two-hundred day moving average of $54.32. The company has a market capitalization of $26.88 billion, a PE ratio of 12.83, a P/E/G ratio of 1.11 and a beta of 0.86. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, analysts expect that Cognizant Technology Solutions Corporation will post 5.74 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.39%.

Cognizant Technology Solutions 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.