Rakuten Investment Management Inc. Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

Rakuten Investment Management Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 35,324 shares of the information technology service provider’s stock, valued at approximately $2,571,000.

Several other hedge funds have also recently made changes to their positions in the company. Hilltop National Bank acquired a new stake in Cognizant Technology Solutions during the 2nd quarter worth about $27,000. NewSquare Capital LLC increased its holdings in shares of Cognizant Technology Solutions by 71.8% in the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 153 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Cognizant Technology Solutions by 267.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock worth $40,000 after purchasing an additional 439 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $41,000. Finally, Geneos Wealth Management Inc. boosted its position in Cognizant Technology Solutions by 118.8% in the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 309 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief accounting officer directly owned 36,149 shares in the company, valued at approximately $2,891,920. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of Cognizant Technology Solutions stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $85.06, for a total transaction of $250,927.00. Following the completion of the sale, the chief executive officer owned 75,209 shares in the company, valued at approximately $6,397,277.54. This trade represents a 3.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,206 shares of company stock valued at $2,505,231. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTSH. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Guggenheim reissued a “buy” rating and set a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a research report on Thursday, October 30th. Finally, UBS Group reissued a “neutral” rating and issued a $82.00 price objective (up previously from $78.00) on shares of Cognizant Technology Solutions in a report on Monday, December 8th. Eight analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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 firm has a 50-day simple moving average of $81.71 and a two-hundred day simple moving average of $74.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a market cap of $40.63 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96.

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, beating analysts’ consensus estimates of $1.30 by $0.09. The firm 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 company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal 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 given a dividend of $0.31 per share. 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 (DPR) is 28.77%.

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.