ING Groep NV Has $161.92 Million Position in Cognizant Technology Solutions Corporation $CTSH

ING Groep NV reduced its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,414,198 shares of the information technology service provider’s stock after selling 422,253 shares during the quarter. Cognizant Technology Solutions makes up about 0.9% of ING Groep NV’s portfolio, making the stock its 24th largest holding. ING Groep NV’s holdings in Cognizant Technology Solutions were worth $161,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC boosted its position in Cognizant Technology Solutions by 71.8% during the second 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 last quarter. High Note Wealth LLC boosted its position in shares of Cognizant Technology Solutions by 22,450.0% during the 3rd 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 in the last quarter. Winnow Wealth LLC acquired a new stake in Cognizant Technology Solutions during the third quarter worth approximately $39,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in 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 purchasing an additional 439 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 3,125 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.01, for a total transaction of $250,031.25. Following the completion of the sale, the chief executive officer directly owned 75,454 shares of the company’s stock, valued at $6,037,074.54. This trade represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief accounting officer directly owned 36,149 shares in the company, valued at $2,891,920. This trade represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,434 shares of company stock worth $2,460,809 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $98.00 price objective (up previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, January 26th. Royal Bank Of Canada lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Weiss Ratings raised shares of Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price (up from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.89.

Cognizant Technology Solutions Stock Down 0.0%

Cognizant Technology Solutions stock opened at $74.57 on Wednesday. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.34. The firm’s 50-day simple moving average is $82.78 and its 200 day simple moving average is $74.96. The stock has a market cap of $35.99 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.32 by $0.03. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the firm earned $1.21 EPS. The company’s quarterly 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. Research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 18th will be given a $0.33 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.25%.

Cognizant Technology Solutions Company 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.