Allstate Corp Increases Stake in Cognizant Technology Solutions Corporation $CTSH

Allstate Corp lifted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 17,173 shares of the information technology service provider’s stock after acquiring an additional 2,237 shares during the period. Allstate Corp’s holdings in Cognizant Technology Solutions were worth $1,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. CoreCap Advisors LLC raised its position in Cognizant Technology Solutions by 21.5% during the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock worth $55,000 after buying an additional 126 shares during the last quarter. Connecticut Wealth Management LLC raised its position in Cognizant Technology Solutions by 0.8% during the 4th quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider’s stock worth $1,357,000 after buying an additional 138 shares during the last quarter. Conning Inc. raised its position in Cognizant Technology Solutions by 4.4% during the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider’s stock worth $271,000 after buying an additional 149 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Cognizant Technology Solutions by 1.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider’s stock worth $668,000 after buying an additional 149 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Cognizant Technology Solutions by 8.6% during the 1st quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider’s stock worth $146,000 after buying an additional 151 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTSH. JPMorgan Chase & Co. reduced 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 research report on Wednesday. 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 research report on Friday, July 18th. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an “outperform” rating and a $100.00 price target for the company. Wall Street Zen lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.31.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $72.37 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a 50 day moving average price of $74.95 and a 200-day moving average price of $77.53. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the firm earned $1.17 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Equities research analysts forecast 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 will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 25.20%.

Cognizant Technology Solutions Company Profile

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.