Cognizant Technology Solutions Corporation $CTSH Holdings Boosted by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 86.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 634,277 shares of the information technology service provider’s stock after acquiring an additional 294,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Cognizant Technology Solutions were worth $42,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cognizant Technology Solutions by 267.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock worth $40,000 after acquiring an additional 439 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Cognizant Technology Solutions by 3.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 8,017 shares of the information technology service provider’s stock valued at $538,000 after acquiring an additional 270 shares in the last quarter. Eads & Heald Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 5.6% in the 3rd quarter. Eads & Heald Wealth Management now owns 19,163 shares of the information technology service provider’s stock valued at $1,285,000 after purchasing an additional 1,019 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Cognizant Technology Solutions by 3.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,846 shares of the information technology service provider’s stock worth $325,000 after purchasing an additional 174 shares in the last quarter. Finally, Gries Financial LLC boosted its holdings in shares of Cognizant Technology Solutions by 3.7% during the third quarter. Gries Financial LLC now owns 22,981 shares of the information technology service provider’s stock worth $1,541,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the sale, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at approximately $6,397,277.54. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Patsalos-Fox sold 3,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $85.17, for a total value of $255,510.00. Following the transaction, the director directly owned 34,729 shares of the company’s stock, valued at $2,957,868.93. This represents a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,206 shares of company stock worth $2,336,771 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. Wells Fargo & Company boosted their target price on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Finally, Guggenheim reissued a “buy” rating and issued a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.44.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $84.62 on Wednesday. The business’s 50-day simple moving average is $78.68 and its 200-day simple moving average is $74.10. 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 52 week low of $65.15 and a 52 week high of $90.82. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.56 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Cognizant Technology Solutions’s payout ratio is currently 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.