Cognizant Technology Solutions Corporation $CTSH Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP lessened its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,410,672 shares of the information technology service provider’s stock after selling 84,953 shares during the period. Cognizant Technology Solutions accounts for about 3.6% of Yacktman Asset Management LP’s portfolio, making the stock its 8th biggest holding. Yacktman Asset Management LP owned about 0.69% of Cognizant Technology Solutions worth $266,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Hilltop National Bank acquired a new position in Cognizant Technology Solutions in the 2nd quarter worth about $27,000. NewSquare Capital LLC increased its holdings in Cognizant Technology Solutions by 71.8% in the 2nd 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 in the last quarter. Geneos Wealth Management Inc. increased its holdings in Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares in the last quarter. WPG Advisers LLC acquired a new position in Cognizant Technology Solutions in the 1st quarter worth about $61,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cognizant Technology Solutions in the 1st quarter worth about $66,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTSH. Evercore ISI began coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 target price for the company. UBS Group set a $78.00 price target on Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Thursday, October 30th. Wells Fargo & Company increased their price target on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada decreased their price target on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Six investment 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.19.

Cognizant Technology Solutions Trading Up 2.5%

NASDAQ CTSH opened at $74.66 on Thursday. The business has a 50 day simple moving average of $69.10 and a 200 day simple moving average of $73.75. Cognizant Technology Solutions Corporation has a one year low of $65.15 and a one year high of $90.82. The stock has a market capitalization of $36.46 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.47 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. Research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 annualized dividend and a yield of 1.7%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total value of $187,950.00. Following the transaction, the chief accounting officer owned 36,630 shares in the company, valued at approximately $2,753,843.40. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

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.