248,651 Cognizant Technology Solutions Corporation $CTSH Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 372.3% in the third quarter, HoldingsChannel.com reports. The fund owned 315,432 shares of the information technology service provider’s stock after acquiring an additional 248,651 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cognizant Technology Solutions were worth $18,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in Cognizant Technology Solutions by 925.5% in the second quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock valued at $141,456,000 after acquiring an additional 3,296,205 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after purchasing an additional 2,633,683 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Cognizant Technology Solutions by 289.6% during the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock worth $166,897,000 after purchasing an additional 2,159,704 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 761.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,859,134 shares of the information technology service provider’s stock worth $106,789,000 after purchasing an additional 1,643,271 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 752.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,317,166 shares of the information technology service provider’s stock worth $80,808,000 after purchasing an additional 1,162,580 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Up 2.1%

NASDAQ CTSH opened at $68.18 on Wednesday. The firm has a market cap of $30.71 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.86. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. The stock has a 50-day moving average of $60.83 and a 200-day moving average of $54.50. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%. Cognizant Technology Solutions’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 5.74 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.39%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. Daiwa Securities Group increased their price objective on Cognizant Technology Solutions from $42.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, September 25th. Mizuho set a $64.00 target price on Cognizant Technology Solutions in a research report on Thursday, August 6th. Morgan Stanley restated a “negative” rating and issued a $51.00 target price (up from $44.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. HSBC cut their target price on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Cognizant Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $64.70.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.