Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Cognizant Technology Solutions Corporation $CTSH

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.8% in the second quarter, Holdings Channel.com reports. The fund owned 981,314 shares of the information technology service provider’s stock after purchasing an additional 62,603 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $76,572,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $214,000. Envestnet Asset Management Inc. grew its stake in shares of Cognizant Technology Solutions by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider’s stock valued at $38,253,000 after buying an additional 7,105 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Cognizant Technology Solutions by 7.1% in the 1st 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 period. Cerity Partners LLC boosted its holdings in Cognizant Technology Solutions by 12.8% during the 1st 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. Finally, Xponance Inc. grew its position in Cognizant Technology Solutions by 1.3% in the 1st quarter. Xponance Inc. now owns 71,722 shares of the information technology service provider’s stock valued at $5,487,000 after acquiring an additional 945 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. 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 report on Thursday, October 30th. Citigroup assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a “hold” rating and a $80.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.19.

Insider Activity at Cognizant Technology Solutions

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 directly owned 36,630 shares in the company, valued at $2,753,843.40. This trade represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $73.20 on Monday. The firm has a market capitalization of $35.75 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.47 and a beta of 0.98. The firm’s fifty day simple moving average is $69.14 and its 200-day simple moving average is $73.83. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The company has a current ratio of 2.36, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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. 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 quarter in the previous year, the firm posted $1.25 earnings per share. 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. Equities analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

About Cognizant Technology Solutions

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.