Cognizant Technology Solutions Corporation $CTSH Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 19.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 907,233 shares of the information technology service provider’s stock after purchasing an additional 149,429 shares during the period. Cognizant Technology Solutions comprises 1.0% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 25th biggest position. Wedge Capital Management L L P NC’s holdings in Cognizant Technology Solutions were worth $60,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hilltop National Bank acquired a new position in Cognizant Technology Solutions in the second quarter valued at approximately $27,000. NewSquare Capital LLC grew its stake in shares of Cognizant Technology Solutions by 71.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 153 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 309 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at $61,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at $64,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.52, for a total value of $584,640.00. Following the completion of the sale, the director directly owned 47,729 shares in the company, valued at $3,986,326.08. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ravi Kumar Singisetti sold 3,125 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,037,074.54. This represents a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,256 shares of company stock valued at $1,233,684 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Trading Up 2.0%

Shares of Cognizant Technology Solutions stock opened at $85.41 on Friday. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The firm’s 50-day moving average price is $74.64 and its 200 day moving average price is $73.76. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $41.22 billion, a PE ratio of 19.82, a P/E/G ratio of 1.74 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is 28.77%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTSH. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday, December 15th. Wells Fargo & Company raised their target price on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada reduced their price target on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Citigroup initiated coverage on Cognizant Technology Solutions in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.44.

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.