Meritage Portfolio Management Purchases New Shares in Cognizant Technology Solutions Corporation $CTSH

Meritage Portfolio Management acquired a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the third quarter, Holdings Channel.com reports. The firm acquired 189,420 shares of the information technology service provider’s stock, valued at approximately $12,704,000. Cognizant Technology Solutions makes up approximately 0.8% of Meritage Portfolio Management’s portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Unison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 0.5% in the second quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after acquiring an additional 135 shares in the last quarter. Security National Bank of SO Dak raised its position in shares of Cognizant Technology Solutions by 0.6% in the 3rd quarter. Security National Bank of SO Dak now owns 24,785 shares of the information technology service provider’s stock valued at $1,662,000 after purchasing an additional 150 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of 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 last quarter. STF Management LP grew its position in shares of Cognizant Technology Solutions by 2.1% during the second quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock worth $588,000 after buying an additional 158 shares in the last quarter. Finally, Uncommon Cents Investing LLC increased its stake in shares of Cognizant Technology Solutions by 2.0% in the third quarter. Uncommon Cents Investing LLC now owns 8,400 shares of the information technology service provider’s stock worth $563,000 after buying an additional 165 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $86.70 on Thursday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $80.17 and its two-hundred day moving average price is $74.45. 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 $41.85 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.62 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.77%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTSH. JPMorgan Chase & Co. increased their price objective on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Friday, January 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Guggenheim restated a “buy” rating and set a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $86.00.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 2,000 shares of Cognizant Technology Solutions 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 sale, the director directly owned 29,729 shares in the company, valued at $2,504,073.67. This trade represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $85.06, for a total transaction of $250,927.00. Following the transaction, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at $6,397,277.54. The trade was a 3.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,206 shares of company stock worth $2,505,231. 0.32% of the stock is owned by insiders.

Cognizant Technology Solutions Company 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.