Sanders Morris Harris LLC Buys Shares of 6,000 Cognizant Technology Solutions Corporation $CTSH

Sanders Morris Harris LLC bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 3rd quarter, Holdings Channel reports. The fund bought 6,000 shares of the information technology service provider’s stock, valued at approximately $402,000.

Several other large investors have also bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Cognizant Technology Solutions during the second quarter worth about $74,917,000. State Street Corp raised its position in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after acquiring an additional 157,427 shares during the period. Summit Global Investments boosted its stake in Cognizant Technology Solutions by 245.1% during the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock worth $2,777,000 after acquiring an additional 25,276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cognizant Technology Solutions by 6.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock valued at $13,600,000 after purchasing an additional 11,037 shares during the period. Finally, Amundi increased its stake in Cognizant Technology Solutions by 5.2% in the second quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock valued at $381,135,000 after purchasing an additional 235,432 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $83.63 on Thursday. The firm has a market cap of $40.36 billion, a PE ratio of 19.40, a P/E/G ratio of 1.71 and a beta of 0.97. The business’s 50 day simple moving average is $73.95 and its 200 day simple moving average is $73.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s 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. On average, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders 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 1.5%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.77%.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 3,125 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 75,454 shares of the company’s stock, valued at approximately $6,037,074.54. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction that occurred 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,256 shares of company stock worth $1,233,684 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTSH. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company raised their price target on Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $85.44.

Cognizant Technology Solutions Company 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.