City Center Advisors LLC Sells 500 Shares of Cognizant Technology Solutions Corporation $CTSH

City Center Advisors LLC trimmed its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,900 shares of the information technology service provider’s stock after selling 500 shares during the quarter. City Center Advisors LLC’s holdings in Cognizant Technology Solutions were worth $226,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTSH. Goldman Sachs Group Inc. grew its position in Cognizant Technology Solutions by 117.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider’s stock valued at $520,651,000 after buying an additional 3,677,145 shares during the period. Amundi grew its position in Cognizant Technology Solutions by 61.6% during the first quarter. Amundi now owns 4,519,912 shares of the information technology service provider’s stock valued at $331,584,000 after buying an additional 1,723,335 shares during the period. Pacer Advisors Inc. grew its position in Cognizant Technology Solutions by 2,585.0% during the first quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider’s stock valued at $135,910,000 after buying an additional 1,710,433 shares during the period. Invesco Ltd. grew its position in Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock valued at $923,925,000 after buying an additional 1,422,265 shares during the period. Finally, Nuveen LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $90,194,000. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTSH shares. Wall Street Zen lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a “hold” rating and a $80.00 price target for the company. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price target for the company. Guggenheim upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $86.79.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $69.17 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a fifty day moving average price of $72.83 and a 200 day moving average price of $75.86. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.47 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 8.1% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions’s dividend payout ratio is presently 25.20%.

Cognizant Technology Solutions Profile

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.