Cognizant Technology Solutions Corporation $CTSH Shares Sold by Orion Porfolio Solutions LLC

Orion Porfolio Solutions LLC cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 25.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,011 shares of the information technology service provider’s stock after selling 8,940 shares during the period. Orion Porfolio Solutions LLC’s holdings in Cognizant Technology Solutions were worth $2,030,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Cognizant Technology Solutions in the second quarter valued at about $74,917,000. State Street Corp increased its holdings in shares of Cognizant Technology Solutions by 0.6% during the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after acquiring an additional 157,427 shares in the last quarter. Summit Global Investments raised its position in shares of Cognizant Technology Solutions by 245.1% in the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after purchasing an additional 25,276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cognizant Technology Solutions by 6.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock worth $13,600,000 after purchasing an additional 11,037 shares in the last quarter. Finally, Amundi grew its position in Cognizant Technology Solutions by 5.2% during the 2nd quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock worth $381,135,000 after purchasing an additional 235,432 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of research analyst reports. Mizuho set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. 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 report on Thursday, October 30th. Finally, UBS Group restated a “neutral” rating and issued a $82.00 price objective (up from $78.00) on shares of Cognizant Technology Solutions in a research note on Monday, December 8th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.44.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 3,125 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.01, for a total transaction of $250,031.25. Following the completion of the transaction, the chief executive officer directly owned 75,454 shares of the company’s stock, valued at $6,037,074.54. The trade was a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the chief accounting officer directly owned 36,149 shares in the company, valued at $2,891,920. This trade represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,256 shares of company stock valued at $1,233,684 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $85.41 on Friday. The business’s 50-day moving average is $74.64 and its two-hundred day moving average is $73.80. The company has a market capitalization of $41.22 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.71 and a beta of 0.97. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36.

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

Cognizant Technology Solutions Announces Dividend

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

Cognizant Technology Solutions Profile

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.