Mackenzie Financial Corp Cuts Position in Cognizant Technology Solutions Corporation $CTSH

Mackenzie Financial Corp lowered its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,813 shares of the information technology service provider’s stock after selling 10,318 shares during the quarter. Mackenzie Financial Corp’s holdings in Cognizant Technology Solutions were worth $14,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Unison Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after buying an additional 135 shares during the period. NewSquare Capital LLC grew its stake in Cognizant Technology Solutions by 71.8% in the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after acquiring an additional 153 shares during the period. STF Management LP increased its holdings in Cognizant Technology Solutions by 2.1% in the 2nd quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock worth $588,000 after acquiring an additional 158 shares in the last quarter. Kesler Norman & Wride LLC raised its position in Cognizant Technology Solutions by 1.6% during the second quarter. Kesler Norman & Wride LLC now owns 11,289 shares of the information technology service provider’s stock worth $881,000 after acquiring an additional 179 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC lifted its holdings in Cognizant Technology Solutions by 0.3% during the second quarter. Walled Lake Planning & Wealth Management LLC now owns 57,714 shares of the information technology service provider’s stock valued at $4,503,000 after purchasing an additional 189 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.4%

Shares of NASDAQ CTSH opened at $77.43 on Tuesday. The stock has a market cap of $37.37 billion, a PE ratio of 17.97, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a current ratio of 2.36, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82. The company has a 50-day moving average of $70.49 and a 200 day moving average of $73.53.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.09. The business 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 business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid 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 1.6%. Cognizant Technology Solutions’s payout ratio is 28.77%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Guggenheim reiterated a “buy” rating and issued a $85.00 price objective (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. Finally, Royal Bank Of Canada decreased their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.19.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total value of $187,950.00. Following the completion of the sale, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at $2,753,843.40. This trade represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

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.