Wedge Capital Management L L P NC Sells 93,014 Shares of Cognizant Technology Solutions Corporation $CTSH

Wedge Capital Management L L P NC lessened its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 814,219 shares of the information technology service provider’s stock after selling 93,014 shares during the quarter. Cognizant Technology Solutions accounts for approximately 1.2% of Wedge Capital Management L L P NC’s holdings, making the stock its 2nd biggest holding. Wedge Capital Management L L P NC owned approximately 0.17% of Cognizant Technology Solutions worth $67,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC boosted its position in shares of Cognizant Technology Solutions by 68.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,247 shares of the information technology service provider’s stock valued at $2,179,000 after acquiring an additional 10,694 shares in the last quarter. Kathmere Capital Management LLC raised its position in Cognizant Technology Solutions by 54.8% in the fourth quarter. Kathmere Capital Management LLC now owns 12,414 shares of the information technology service provider’s stock worth $1,030,000 after purchasing an additional 4,397 shares in the last quarter. Albert D Mason Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter worth about $212,000. Norden Group LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $243,000. Finally, Czech National Bank boosted its holdings in Cognizant Technology Solutions by 2.6% during the fourth quarter. Czech National Bank now owns 127,267 shares of the information technology service provider’s stock valued at $10,563,000 after purchasing an additional 3,224 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $85.17, for a total value of $255,510.00. Following the completion of the sale, the director owned 34,729 shares in the company, valued at approximately $2,957,868.93. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Surya Gummadi sold 1,728 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $83.06, for a total transaction of $143,527.68. Following the completion of the transaction, the insider directly owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This represents a 6.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,859 shares of company stock valued at $575,460 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $59.73 on Friday. The stock has a market capitalization of $28.57 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.32 and a beta of 0.99. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 1 year low of $58.83 and a 1 year high of $87.03. The firm has a 50 day moving average of $69.30 and a 200-day moving average of $73.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period last year, the firm posted $1.21 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is 29.01%.

Analyst Ratings Changes

CTSH has been the topic of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Citigroup restated a “neutral” rating and set a $86.00 target price (up from $75.00) on shares of Cognizant Technology Solutions in a research report on Thursday, January 22nd. BMO Capital Markets set a $83.00 price target on Cognizant Technology Solutions in a research report on Thursday, February 12th. Weiss Ratings cut Cognizant Technology Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Finally, UBS Group set a $71.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, March 13th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.78.

Cognizant Technology Solutions Company 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.