Corebridge Financial Inc. Sells 6,224 Shares of Cognizant Technology Solutions Corporation $CTSH

Corebridge Financial Inc. lessened its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,975 shares of the information technology service provider’s stock after selling 6,224 shares during the quarter. Corebridge Financial Inc.’s holdings in Cognizant Technology Solutions were worth $12,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTSH. Park Square Financial Group LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after acquiring an additional 126 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $55,000. Optiver Holding B.V. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $66,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Cognizant Technology Solutions in the first quarter valued at approximately $66,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.7%

CTSH stock opened at $71.68 on Wednesday. The company has a market capitalization of $35.01 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company’s 50 day moving average price is $74.63 and its two-hundred day moving average price is $77.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Cognizant Technology Solutions’s payout ratio is presently 25.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Susquehanna upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and raised their price objective for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.31.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.