VIRGINIA RETIREMENT SYSTEMS ET Al Sells 147,000 Shares of Cognizant Technology Solutions Corporation $CTSH

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 813,100 shares of the information technology service provider’s stock after selling 147,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.17% of Cognizant Technology Solutions worth $54,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Hilltop National Bank purchased a new position in Cognizant Technology Solutions during the second quarter valued at $27,000. NewSquare Capital LLC increased its holdings in shares of 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 in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $64,000. Finally, Caldwell Trust Co purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at about $70,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the subject of several recent analyst reports. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 30th. Royal Bank Of Canada decreased their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday. UBS Group reissued a “neutral” rating and issued a $82.00 target price (up previously from $78.00) on shares of Cognizant Technology Solutions in a report on Monday, December 8th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.44.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $84.14 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The company has a market cap of $40.61 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The stock’s fifty day moving average price is $77.21 and its 200-day moving average price is $73.96.

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

Cognizant Technology Solutions Announces Dividend

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

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $85.30, for a total value of $341,200.00. Following the transaction, the director directly owned 37,729 shares in the company, valued at approximately $3,218,283.70. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $85.06, for a total transaction of $250,927.00. Following the sale, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at approximately $6,397,277.54. The trade was a 3.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 25,206 shares of company stock valued at $2,081,261. Insiders own 0.32% of the company’s stock.

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.