AXQ Capital LP Takes $281,000 Position in Cognizant Technology Solutions Corporation $CTSH

AXQ Capital LP acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,602 shares of the information technology service provider’s stock, valued at approximately $281,000.

Other hedge funds have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $74,917,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 6.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock worth $13,600,000 after acquiring an additional 11,037 shares in the last quarter. LBP AM SA bought a new stake in Cognizant Technology Solutions during the 2nd quarter worth approximately $8,541,000. Leo Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the second quarter worth $912,000. Finally, Resona Asset Management Co. Ltd. grew its holdings in Cognizant Technology Solutions by 5.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 202,917 shares of the information technology service provider’s stock worth $15,826,000 after acquiring an additional 10,843 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTSH shares. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Citigroup initiated coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Wells Fargo & Company raised their price target on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, UBS Group set a $78.00 price objective on Cognizant Technology Solutions and gave the stock a “neutral” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $74.92 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week high of $90.82. The company’s 50 day moving average price is $69.67 and its two-hundred day moving average price is $73.66. The company has a market capitalization of $36.16 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98.

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 for the quarter, beating 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.77%.

Insider Activity at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total value of $187,950.00. Following the sale, the chief accounting officer directly owned 36,630 shares in the company, valued at $2,753,843.40. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.