Ascent Group LLC Sells 19,551 Shares of Cognizant Technology Solutions Corporation $CTSH

Ascent Group LLC cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 44.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,516 shares of the information technology service provider’s stock after selling 19,551 shares during the quarter. Ascent Group LLC’s holdings in Cognizant Technology Solutions were worth $1,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth about $27,000. NewSquare Capital LLC grew its stake in Cognizant Technology Solutions by 71.8% in 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 during the period. Geneos Wealth Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 309 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth $64,000. Finally, Caldwell Trust Co acquired a new stake in Cognizant Technology Solutions in the 2nd quarter valued at $70,000. 92.44% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 47,729 shares in the company, valued at $3,986,326.08. This trade represents a 12.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief accounting officer directly owned 36,149 shares in the company, valued at $2,891,920. This trade represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,206 shares of company stock valued at $2,336,771 in the last three months. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday. Guggenheim reissued a “buy” rating and set a $85.00 price objective (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.44.

Cognizant Technology Solutions Stock Down 1.4%

CTSH stock opened at $83.00 on Friday. The stock has a market cap of $40.06 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.69 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. The stock’s fifty day simple moving average is $77.80 and its two-hundred day simple moving average is $74.08. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82.

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

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is presently 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.