Penserra Capital Management LLC Reduces Stock Position in Cognizant Technology Solutions Corporation $CTSH

Penserra Capital Management LLC trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 75.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,709 shares of the information technology service provider’s stock after selling 8,200 shares during the quarter. Penserra Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Unison Advisors LLC increased its holdings in Cognizant Technology Solutions by 0.5% in the 2nd quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after buying an additional 135 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Cognizant Technology Solutions by 1.7% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider’s stock worth $668,000 after acquiring an additional 149 shares during the period. NewSquare Capital LLC raised its holdings 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 worth $29,000 after purchasing an additional 153 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in Cognizant Technology Solutions by 1.6% during the second quarter. Kesler Norman & Wride LLC now owns 11,289 shares of the information technology service provider’s stock valued at $881,000 after purchasing an additional 179 shares during the period. Finally, Allworth Financial LP boosted its holdings in Cognizant Technology Solutions by 7.1% in the first quarter. Allworth Financial LP now owns 2,803 shares of the information technology service provider’s stock valued at $202,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $75.18, for a total value of $187,950.00. Following the transaction, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at approximately $2,753,843.40. This trade represents a 6.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Stock Up 1.5%

Shares of CTSH opened at $74.20 on Thursday. The firm has a market cap of $35.81 billion, a P/E ratio of 17.22, a PEG ratio of 1.47 and a beta of 0.98. Cognizant Technology Solutions Corporation has a 12 month low of $65.15 and a 12 month high of $90.82. The stock’s 50 day moving average is $69.23 and its two-hundred day moving average is $73.84. The company has a current ratio of 2.36, a quick ratio of 2.41 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates 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 revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTSH. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a “hold” rating and a $80.00 price objective for the company. Wall Street Zen cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 30th. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price 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. Six analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.19.

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.