Cognizant Technology Solutions Corporation $CTSH Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 124.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 587,154 shares of the information technology service provider’s stock after buying an additional 325,117 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.12% of Cognizant Technology Solutions worth $39,891,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $74,917,000. State Street Corp increased its position in Cognizant Technology Solutions by 0.6% during the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after purchasing an additional 157,427 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Cognizant Technology Solutions by 60.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock valued at $3,079,000 after purchasing an additional 14,946 shares during the last quarter. Summit Global Investments increased its holdings in shares of Cognizant Technology Solutions by 245.1% during the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock worth $2,777,000 after buying an additional 25,276 shares during the last quarter. Finally, Amundi raised its position in shares of Cognizant Technology Solutions by 5.2% in the 2nd quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock worth $381,135,000 after buying an additional 235,432 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTSH shares. William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $84.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Citigroup started coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price on the stock. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a report on Thursday, October 30th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $86.00.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $82.88 on Wednesday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The business has a 50 day moving average price of $81.06 and a two-hundred day moving average price of $74.56. The firm has a market cap of $40.00 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96.

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, beating the consensus estimate of $1.30 by $0.09. The company had revenue of $5.42 billion during 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Insider Buying and Selling at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the sale, the director directly owned 29,729 shares in the company, valued at approximately $2,504,073.67. This represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the transaction, the chief accounting officer owned 36,149 shares of the company’s stock, valued at $2,891,920. This represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,206 shares of company stock worth $2,505,231 over the last quarter. 0.32% of the stock is owned by corporate insiders.

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.