Grimes & Company Inc. Has $11.65 Million Position in Cognizant Technology Solutions Corporation $CTSH

Grimes & Company Inc. reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,281 shares of the information technology service provider’s stock after selling 3,206 shares during the period. Grimes & Company Inc.’s holdings in Cognizant Technology Solutions were worth $11,648,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $27,000. Geneos Wealth Management Inc. boosted its position in shares of Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 309 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $61,000. Zions Bancorporation National Association UT acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $66,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Cognizant Technology Solutions by 290.9% during the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider’s stock valued at $69,000 after acquiring an additional 669 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTSH. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set an “outperform” rating and a $100.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Saturday, September 27th. JPMorgan Chase & Co. cut their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Guggenheim raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a report on Friday, July 18th. Finally, Wall Street Zen downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.79.

Cognizant Technology Solutions Stock Up 1.0%

Shares of NASDAQ CTSH opened at $67.66 on Monday. The stock has a market cap of $33.05 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.41 and a beta of 0.95. The firm has a 50 day moving average price of $70.16 and a 200 day moving average price of $74.38. 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 Corporation has a 52-week low of $65.17 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. Analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is 25.20%.

About Cognizant Technology Solutions

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.