Geode Capital Management LLC Acquires 206,532 Shares of Cognizant Technology Solutions Corporation $CTSH

Geode Capital Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,019,891 shares of the information technology service provider’s stock after purchasing an additional 206,532 shares during the period. Geode Capital Management LLC owned approximately 2.84% of Cognizant Technology Solutions worth $1,091,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Forsta AP Fonden lifted its holdings in shares of Cognizant Technology Solutions by 3.2% in the second quarter. Forsta AP Fonden now owns 95,358 shares of the information technology service provider’s stock valued at $7,441,000 after purchasing an additional 3,000 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cognizant Technology Solutions during the second quarter worth $20,804,000. Mitsubishi UFJ Trust & Banking Corp raised its position in Cognizant Technology Solutions by 12.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 798,527 shares of the information technology service provider’s stock valued at $62,309,000 after buying an additional 88,296 shares during the last quarter. STF Management LP lifted its stake in Cognizant Technology Solutions by 2.1% during the 2nd quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock valued at $588,000 after acquiring an additional 158 shares in the last quarter. Finally, Peninsula Asset Management Inc. boosted its holdings in Cognizant Technology Solutions by 2.5% during the 2nd quarter. Peninsula Asset Management Inc. now owns 30,363 shares of the information technology service provider’s stock worth $2,369,000 after acquiring an additional 740 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO John Sunshin Kim sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total transaction of $187,950.00. Following the transaction, the chief accounting officer owned 36,630 shares of the company’s stock, valued at $2,753,843.40. This represents a 6.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim reiterated a “buy” rating and issued a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Royal Bank Of Canada reduced their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $73.56 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.36. The firm has a market cap of $35.50 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.47 and a beta of 0.98. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week high of $90.82. The firm’s 50-day simple moving average is $69.27 and its two-hundred day simple moving average is $73.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 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.