TD Asset Management Inc Purchases 26,944 Shares of Cognizant Technology Solutions Corporation $CTSH

TD Asset Management Inc raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.0% during the third quarter, Holdings Channel reports. The firm owned 363,408 shares of the information technology service provider’s stock after purchasing an additional 26,944 shares during the period. TD Asset Management Inc’s holdings in Cognizant Technology Solutions were worth $24,374,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Cognizant Technology Solutions by 0.8% in the third quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock valued at $4,047,570,000 after buying an additional 493,912 shares during the period. State Street Corp lifted its stake 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 purchasing an additional 157,427 shares during the period. Pzena Investment Management LLC boosted its position in shares of Cognizant Technology Solutions by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock valued at $1,187,868,000 after purchasing an additional 260,177 shares in the last quarter. Geode Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.5% during the second quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock worth $1,091,391,000 after purchasing an additional 206,532 shares during the period. Finally, Norges Bank bought a new stake in Cognizant Technology Solutions in the second quarter worth approximately $487,526,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTSH shares. Royal Bank Of Canada increased their price target on Cognizant Technology Solutions from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Morgan Stanley increased their target price on shares of Cognizant Technology Solutions from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Susquehanna reiterated a “positive” rating and set a $98.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 23rd. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Finally, Weiss Ratings upgraded Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Ten 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, the company currently has an average rating of “Hold” and an average target price of $90.17.

Cognizant Technology Solutions Stock Down 0.8%

CTSH stock opened at $64.43 on Friday. The firm has a market capitalization of $30.81 billion, a PE ratio of 14.16, a P/E/G ratio of 1.40 and a beta of 0.95. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a twelve month low of $60.03 and a twelve month high of $87.03. The stock’s 50 day moving average is $78.21 and its 200-day moving average is $74.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.Cognizant Technology Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 18th were paid a $0.33 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 18th. This represents a $1.32 annualized dividend and a yield of 2.0%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 29.01%.

Insider Activity

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $83.52, for a total value of $584,640.00. Following the transaction, the director owned 47,729 shares in the company, valued at $3,986,326.08. The trade was a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer directly owned 36,149 shares of the company’s stock, valued at $2,891,920. The trade was a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,434 shares of company stock worth $2,460,809 in the last quarter. 0.32% of the stock is owned by corporate insiders.

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.