Vest Financial LLC Grows Stake in Cognizant Technology Solutions Corporation $CTSH

Vest Financial LLC raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 14.9% in the third quarter, Holdings Channel.com reports. The fund owned 594,128 shares of the information technology service provider’s stock after acquiring an additional 76,829 shares during the quarter. Vest Financial LLC’s holdings in Cognizant Technology Solutions were worth $39,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Hilltop National Bank purchased a new position in Cognizant Technology Solutions in the 2nd quarter worth approximately $27,000. NewSquare Capital LLC increased its position in shares of Cognizant Technology Solutions by 71.8% during the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after acquiring an additional 153 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake 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 buying an additional 439 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $41,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $83.82 on Wednesday. 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 cap of $40.45 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The company has a 50-day moving average price of $81.06 and a two-hundred day moving average price of $74.56. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

Insider Activity at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 7,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.52, for a total transaction of $584,640.00. Following the transaction, the director directly owned 47,729 shares in the company, valued at $3,986,326.08. The trade was a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares in the company, valued at approximately $2,891,920. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,206 shares of company stock worth $2,505,231 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTSH has been the topic of a number of recent research reports. Royal Bank Of Canada cut their price objective on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. Cowen reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Friday, January 9th. TD Cowen boosted their target price on Cognizant Technology Solutions from $78.00 to $84.00 and gave the company a “hold” rating in a report on Friday, January 9th. UBS Group reiterated a “neutral” rating and set a $82.00 price target (up previously from $78.00) on shares of Cognizant Technology Solutions in a research note on Monday, December 8th. Finally, William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $86.00.

About Cognizant Technology Solutions

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.