Rockland Trust Co. Invests $3.04 Million in Cognizant Technology Solutions Corporation $CTSH

Rockland Trust Co. acquired a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 36,651 shares of the information technology service provider’s stock, valued at approximately $3,042,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTSH. JPL Wealth Management LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter worth $25,000. High Note Wealth LLC grew its holdings in Cognizant Technology Solutions by 22,450.0% during the third quarter. High Note Wealth LLC now owns 451 shares of the information technology service provider’s stock valued at $30,000 after purchasing an additional 449 shares during the period. New Millennium Group LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth about $34,000. Winnow Wealth LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth about $39,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Cognizant Technology Solutions by 267.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock worth $40,000 after buying an additional 439 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of analyst reports. Berenberg Bank set a $107.00 price objective on Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Thursday, January 22nd. UBS Group set a $71.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, March 13th. Morgan Stanley lifted their price target on shares of Cognizant Technology Solutions from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Susquehanna reiterated a “positive” rating and issued a $98.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Finally, Weiss Ratings downgraded shares of Cognizant Technology Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.78.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $61.35 on Wednesday. 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 12-month low of $58.83 and a 12-month high of $87.03. The stock has a 50-day moving average price of $68.41 and a 200 day moving average price of $73.01. The stock has a market capitalization of $29.34 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.32 and a beta of 0.99.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping 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 company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend 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 of this dividend was Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 29.01%.

Insiders Place Their Bets

In related news, insider Surya Gummadi sold 1,728 shares of the firm’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 transaction, the insider directly owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Patsalos-Fox sold 2,000 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $84.23, for a total transaction of $168,460.00. Following the completion of the sale, the director owned 29,729 shares in the company, valued at approximately $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,859 shares of company stock valued at $319,950. 0.32% of the stock is owned by company insiders.

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.