SteelPeak Wealth LLC Invests $2.55 Million in Cognizant Technology Solutions Corporation $CTSH

SteelPeak Wealth LLC acquired a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,686 shares of the information technology service provider’s stock, valued at approximately $2,550,000.

Several other hedge funds have also recently made changes to their positions in CTSH. Goldman Sachs Group Inc. raised its position in shares of Cognizant Technology Solutions by 117.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider’s stock worth $520,651,000 after acquiring an additional 3,677,145 shares in the last quarter. Amundi raised its position in shares of Cognizant Technology Solutions by 61.6% in the 1st quarter. Amundi now owns 4,519,912 shares of the information technology service provider’s stock worth $331,584,000 after acquiring an additional 1,723,335 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Cognizant Technology Solutions by 2,585.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider’s stock worth $135,910,000 after acquiring an additional 1,710,433 shares in the last quarter. Invesco Ltd. raised its position in shares of Cognizant Technology Solutions by 13.3% in the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock worth $923,925,000 after acquiring an additional 1,422,265 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $90,194,000. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CTSH shares. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Saturday, September 27th. JPMorgan Chase & Co. reduced their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Evercore ISI started coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an “outperform” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a “hold” rating and a $80.00 target price for the company. Finally, Guggenheim upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, July 18th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.79.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $67.94 on Wednesday. The company has a market capitalization of $33.18 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. 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. The business has a 50-day simple moving average of $69.87 and a two-hundred day simple moving average of $74.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results 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 business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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