Chevy Chase Trust Holdings LLC Decreases Stock Position in Cognizant Technology Solutions Corporation $CTSH

Chevy Chase Trust Holdings LLC decreased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.3% in the 3rd quarter, Holdings Channel reports. The fund owned 249,252 shares of the information technology service provider’s stock after selling 11,172 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Cognizant Technology Solutions were worth $16,717,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Cognizant Technology Solutions by 0.6% in the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after purchasing an additional 157,427 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth $4,422,000. Thrivent Financial for Lutherans increased its stake in Cognizant Technology Solutions by 60.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock worth $3,079,000 after buying an additional 14,946 shares during the period. Summit Global Investments lifted its holdings in Cognizant Technology Solutions by 245.1% in 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 in the last quarter. Finally, Alps Advisors Inc. boosted its position in Cognizant Technology Solutions by 16.5% in the 3rd quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock valued at $20,529,000 after buying an additional 43,252 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CTSH shares. 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 note on Thursday, January 22nd. Weiss Ratings raised Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Mizuho set a $87.00 price objective on Cognizant Technology Solutions in a research note on Monday, February 9th. BMO Capital Markets set a $83.00 price objective on Cognizant Technology Solutions in a report on Thursday, February 12th. Finally, Guggenheim reiterated a “buy” rating and set a $100.00 target price (up from $95.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $88.78.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, insider Surya Gummadi sold 1,728 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total transaction of $143,527.68. Following the completion of the sale, the insider owned 25,641 shares in the company, valued at $2,129,741.46. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction 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 $2,504,073.67. This trade represents a 6.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,678 shares of company stock valued at $1,415,075. Corporate insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $61.05 on Tuesday. The stock has a market capitalization of $29.20 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.31 and a beta of 1.00. Cognizant Technology Solutions Corporation has a one year low of $60.03 and a one year high of $87.03. The company’s 50-day simple moving average is $73.66 and its 200-day simple moving average is $73.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.14 and a current ratio of 2.14.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.31 billion. During the same period in the previous year, the company earned $1.21 earnings per share. Cognizant Technology Solutions’s quarterly 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. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

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

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.