Cognizant Technology Solutions Corporation $CTSH Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 63.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,171 shares of the information technology service provider’s stock after selling 254,003 shares during the quarter. QRG Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $9,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CTSH. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $74,917,000. State Street Corp grew its holdings in Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after buying an additional 157,427 shares in the last quarter. Thrivent Financial for Lutherans increased its position in 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 acquiring an additional 14,946 shares during the period. Summit Global Investments raised its stake in 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 valued at $2,777,000 after acquiring an additional 25,276 shares in the last quarter. Finally, Amundi grew its stake in shares of Cognizant Technology Solutions by 5.2% in the second quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock worth $381,135,000 after purchasing an additional 235,432 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.1%

Shares of CTSH opened at $84.74 on Friday. The business’s 50-day moving average price is $80.64 and its 200 day moving average price is $74.53. 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 stock has a market capitalization of $40.90 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.62 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. 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 was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.77%.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 2,950 shares of the company’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 transaction, the chief executive officer owned 75,209 shares in the company, valued at $6,397,277.54. This represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,206 shares of company stock valued at $2,505,231 over the last quarter. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Guggenheim reissued a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 price objective (up previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday. Finally, Mizuho set a $85.00 target price on Cognizant Technology Solutions in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.00.

Cognizant Technology Solutions Profile

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.