Retirement Systems of Alabama Raises Stock Holdings in Cognizant Technology Solutions Corporation $CTSH

Retirement Systems of Alabama boosted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,239 shares of the information technology service provider’s stock after acquiring an additional 138,191 shares during the period. Retirement Systems of Alabama owned about 0.27% of Cognizant Technology Solutions worth $88,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Cognizant Technology Solutions in the second quarter valued at $487,526,000. Allianz Asset Management GmbH lifted its holdings in Cognizant Technology Solutions by 152.7% during the second quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock valued at $211,332,000 after purchasing an additional 1,636,636 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Cognizant Technology Solutions by 59.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,778,252 shares of the information technology service provider’s stock valued at $253,407,000 after purchasing an additional 1,407,776 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $74,917,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the second quarter valued at approximately $59,176,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 2,000 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the completion of the sale, the director owned 29,729 shares in the company, valued at approximately $2,504,073.67. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the completion of the sale, the chief executive officer directly owned 75,209 shares in the company, valued at approximately $6,397,277.54. The trade was a 3.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,206 shares of company stock worth $2,505,231 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Royal Bank Of Canada reduced their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. TD Cowen reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Friday, January 9th. Guggenheim restated a “buy” rating and set a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Finally, Susquehanna restated a “positive” rating and issued a $98.00 price objective on shares of Cognizant Technology Solutions in a report on Friday. Eight investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.22.

Cognizant Technology Solutions Trading Down 0.5%

Shares of Cognizant Technology Solutions stock opened at $84.18 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $81.71 and a 200-day simple moving average of $74.68. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.61 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.