NorthCrest Asset Manangement LLC Acquires 243,459 Shares of Cognizant Technology Solutions Corporation $CTSH

NorthCrest Asset Manangement LLC grew its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 223.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,187 shares of the information technology service provider’s stock after purchasing an additional 243,459 shares during the quarter. NorthCrest Asset Manangement LLC owned about 0.07% of Cognizant Technology Solutions worth $23,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $214,000. Geneos Wealth Management Inc. boosted 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 worth $44,000 after buying an additional 309 shares during the period. Acadian Asset Management LLC acquired a new position in Cognizant Technology Solutions in the 1st quarter valued at $142,000. Harbor Capital Advisors Inc. raised its holdings in Cognizant Technology Solutions by 262.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,036 shares of the information technology service provider’s stock worth $81,000 after acquiring an additional 750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Cognizant Technology Solutions by 375.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 262,037 shares of the information technology service provider’s stock valued at $21,220,000 after acquiring an additional 206,966 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 3,125 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 4th. The shares were 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 owned 75,454 shares in the company, valued at $6,037,074.54. The trade was a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Patsalos-Fox sold 7,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $83.52, for a total transaction of $584,640.00. Following the sale, the director owned 47,729 shares of the company’s stock, valued at $3,986,326.08. The trade was a 12.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,206 shares of company stock valued at $2,505,231. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

CTSH has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Citigroup assumed coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, October 30th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.00.

Cognizant Technology Solutions Trading Down 0.1%

Shares of CTSH opened at $84.74 on Monday. The stock has a fifty day moving average price of $80.64 and a two-hundred day moving average price of $74.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $40.90 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.62 and a beta of 0.96. 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 issued 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. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s quarterly 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. Analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were issued 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 currently 28.77%.

Cognizant Technology Solutions 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.