KBC Group NV Reduces Stock Position in Cognizant Technology Solutions Corporation $CTSH

KBC Group NV lessened its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 23.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,524,703 shares of the information technology service provider’s stock after selling 480,129 shares during the period. KBC Group NV’s holdings in Cognizant Technology Solutions were worth $118,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Brighton Jones LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $214,000. Allworth Financial LP lifted its stake 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 buying an additional 186 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Cognizant Technology Solutions by 12.8% in the first quarter. Cerity Partners LLC now owns 98,900 shares of the information technology service provider’s stock valued at $7,566,000 after acquiring an additional 11,211 shares during the period. CWM LLC increased its holdings in shares of Cognizant Technology Solutions by 0.8% in the 1st quarter. CWM LLC now owns 78,715 shares of the information technology service provider’s stock valued at $6,022,000 after acquiring an additional 658 shares during the period. Finally, Signaturefd LLC raised its position in Cognizant Technology Solutions by 23.1% in the 1st quarter. Signaturefd LLC now owns 9,331 shares of the information technology service provider’s stock valued at $714,000 after purchasing an additional 1,751 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set a “hold” rating and a $80.00 price target for the company. Citigroup started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price objective for the company. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.19.

Insiders Place Their Bets

In related news, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $75.18, for a total transaction of $187,950.00. Following the sale, the chief accounting officer owned 36,630 shares of the company’s stock, valued at $2,753,843.40. The trade was a 6.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.3%

CTSH opened at $73.13 on Wednesday. The company has a market cap of $35.72 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a one year low of $65.15 and a one year high of $90.82. The business’s fifty day moving average is $69.18 and its two-hundred day moving average is $73.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm posted $1.25 EPS. The firm’s revenue for the quarter 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. Analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is 28.77%.

Cognizant Technology Solutions 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.