Cognizant Technology Solutions Corporation $CTSH Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 59.4% in the third quarter, Holdings Channel reports. The institutional investor owned 3,778,252 shares of the information technology service provider’s stock after acquiring an additional 1,407,776 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cognizant Technology Solutions were worth $253,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTSH. Vanguard Group Inc. increased its holdings 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 worth $4,670,449,000 after acquiring an additional 746,732 shares in the last quarter. State Street Corp increased its stake in shares of Cognizant Technology Solutions by 0.6% during 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 in the last quarter. Pzena Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 2.2% during the 2nd quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock worth $1,361,677,000 after purchasing an additional 375,619 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 1.5% during the 2nd 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 purchasing an additional 206,532 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cognizant Technology Solutions in the 2nd quarter worth about $487,526,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 47,729 shares in the company, valued at approximately $3,986,326.08. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer directly owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This trade represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,206 shares of company stock worth $2,505,231. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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 report on Tuesday, October 21st. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a report on Thursday, October 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $98.00 target price (up previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $78.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $86.00.

Cognizant Technology Solutions Stock Down 0.1%

Shares of CTSH opened at $84.74 on Tuesday. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $80.88 and a two-hundred day simple moving average of $74.53. The company has a market capitalization of $40.90 billion, a PE ratio of 19.66, a price-to-earnings-growth 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Cognizant Technology Solutions’s quarterly 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 analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) 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.