Oregon Public Employees Retirement Fund Boosts Stake in Cognizant Technology Solutions Corporation $CTSH

Oregon Public Employees Retirement Fund lifted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 31.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,837 shares of the information technology service provider’s stock after buying an additional 13,309 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Cognizant Technology Solutions were worth $3,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Cognizant Technology Solutions by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 59,854,530 shares of the information technology service provider’s stock valued at $4,670,449,000 after acquiring an additional 746,732 shares during the period. State Street Corp lifted its position in Cognizant Technology Solutions by 0.6% during the second 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 holdings in Cognizant Technology Solutions by 2.2% in the second quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock worth $1,361,677,000 after purchasing an additional 375,619 shares during the last quarter. Geode Capital Management LLC grew its position in Cognizant Technology Solutions by 1.5% in the 2nd 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 purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $487,526,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of research reports. 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 note on Tuesday, October 21st. Citigroup started coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price target for the company. Mizuho set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, October 30th. Wells Fargo & Company raised their price objective on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.35.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 2,950 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the transaction, the chief executive officer directly owned 75,209 shares in the company, valued at $6,397,277.54. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at $2,891,920. This represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,206 shares of company stock valued at $2,505,231 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Trading Down 0.6%

Cognizant Technology Solutions stock opened at $85.26 on Monday. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82. The firm has a market capitalization of $41.15 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.63 and a beta of 0.96. The firm has a 50 day moving average of $79.44 and a 200 day moving average of $74.27. 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 issued 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. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. As a group, research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared 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 dividend payout ratio is presently 28.77%.

About Cognizant Technology Solutions

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.