Massachusetts Financial Services Co. MA Boosts Stake in Cognizant Technology Solutions Corporation $CTSH

Massachusetts Financial Services Co. MA raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 59.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,778,252 shares of the information technology service provider’s stock after acquiring an additional 1,407,776 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.77% of Cognizant Technology Solutions worth $253,407,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CTSH. Hilltop National Bank bought a new stake in Cognizant Technology Solutions during the second quarter valued at about $27,000. NewSquare Capital LLC lifted its position in shares of Cognizant Technology Solutions by 71.8% during the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after buying an additional 153 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 267.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock valued at $40,000 after buying an additional 439 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Cognizant Technology Solutions by 118.8% in 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 last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $47,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 0.1%

Shares of Cognizant Technology Solutions stock opened at $84.74 on Tuesday. The stock has a market cap of $40.90 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The firm has a fifty day moving average price of $80.88 and a 200 day moving average price of $74.53. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities 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 business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Cognizant Technology Solutions’s payout ratio is presently 28.77%.

Insiders Place Their Bets

In related news, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $84.23, for a total transaction of $168,460.00. Following the sale, the director directly owned 29,729 shares of the company’s stock, valued at approximately $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of Cognizant Technology Solutions stock in a transaction on Friday, December 19th. The shares were sold at an average price of $85.06, for a total transaction of $250,927.00. Following the completion of the transaction, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at $6,397,277.54. The trade was a 3.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,206 shares of company stock worth $2,505,231. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the subject of several recent analyst reports. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Royal Bank Of Canada decreased their price objective on 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. Citigroup assumed coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.00.

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.