Generali Asset Management SPA SGR Boosts Stake in Cognizant Technology Solutions Corporation $CTSH

Generali Asset Management SPA SGR increased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 16.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 51,456 shares of the information technology service provider’s stock after buying an additional 7,244 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Cognizant Technology Solutions were worth $3,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $125,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cognizant Technology Solutions by 36.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 192,044 shares of the information technology service provider’s stock valued at $12,777,000 after buying an additional 51,215 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Cognizant Technology Solutions by 24.3% during the third quarter. Merit Financial Group LLC now owns 9,387 shares of the information technology service provider’s stock worth $630,000 after buying an additional 1,836 shares during the period. Access Financial Services Inc. acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $507,000. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Cognizant Technology Solutions by 22.8% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 4,875 shares of the information technology service provider’s stock valued at $327,000 after acquiring an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In related news, Director Michael Patsalos-Fox sold 3,000 shares of Cognizant Technology Solutions stock in a transaction on Monday, December 29th. The shares were sold at an average price of $85.17, for a total transaction of $255,510.00. Following the transaction, the director owned 34,729 shares in the company, valued at approximately $2,957,868.93. The trade was a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,206 shares of company stock valued at $2,336,771 over the last quarter. Company insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Trading Down 2.1%

Cognizant Technology Solutions stock opened at $81.28 on Friday. The stock has a 50-day moving average price of $78.07 and a 200 day moving average price of $74.09. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week high of $90.82. The stock has a market cap of $39.23 billion, a PE ratio of 18.86, a P/E/G ratio of 1.59 and a beta of 0.96. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04.

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 (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities research 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 issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTSH. William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. The Goldman Sachs Group restated a “neutral” rating and issued a $84.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Royal Bank Of Canada lowered their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Citigroup started coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average 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.