Spire Wealth Management Has $30,000 Position in Cognizant Technology Solutions Corporation $CTSH

Spire Wealth Management decreased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 99.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446 shares of the information technology service provider’s stock after selling 42,909 shares during the period. Spire Wealth Management’s holdings in Cognizant Technology Solutions were worth $30,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cognizant Technology Solutions by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 59,854,530 shares of the information technology service provider’s stock valued at $4,670,449,000 after acquiring an additional 746,732 shares in the last quarter. State Street Corp raised 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 worth $1,980,524,000 after purchasing an additional 157,427 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Cognizant Technology Solutions by 2.2% during the second quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock valued at $1,361,677,000 after buying an additional 375,619 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cognizant Technology Solutions by 1.5% during the second quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock worth $1,091,391,000 after buying an additional 206,532 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cognizant Technology Solutions in the 2nd quarter valued at $487,526,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the transaction, the chief accounting officer directly owned 36,149 shares in the company, valued at approximately $2,891,920. The trade was a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $83.52, for a total value of $584,640.00. Following the sale, the director owned 47,729 shares in the company, valued at approximately $3,986,326.08. This represents a 12.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,206 shares of company stock valued at $2,505,231. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Friday, January 9th. The Goldman Sachs Group restated a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Guggenheim reissued a “buy” rating and set a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. UBS Group reissued a “neutral” rating and issued a $82.00 price objective (up previously from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $86.00.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $86.70 on Thursday. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36. The stock’s fifty day moving average price is $80.17 and its two-hundred day moving average price is $74.45. The firm has a market cap of $41.85 billion, a PE ratio of 20.12, a PEG ratio of 1.62 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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 company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.77%.

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.