ING Groep NV Sells 422,253 Shares of Cognizant Technology Solutions Corporation $CTSH

ING Groep NV trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,414,198 shares of the information technology service provider’s stock after selling 422,253 shares during the quarter. Cognizant Technology Solutions accounts for 0.9% of ING Groep NV’s portfolio, making the stock its 24th largest position. ING Groep NV owned approximately 0.49% of Cognizant Technology Solutions worth $161,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Unison Advisors LLC raised its stake in Cognizant Technology Solutions by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after buying an additional 135 shares during the period. Security National Bank of SO Dak increased its holdings in shares of Cognizant Technology Solutions by 0.6% in the third quarter. Security National Bank of SO Dak now owns 24,785 shares of the information technology service provider’s stock worth $1,662,000 after acquiring an additional 150 shares in the last quarter. NewSquare Capital LLC raised 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 worth $29,000 after purchasing an additional 153 shares during the period. STF Management LP lifted its holdings in shares of Cognizant Technology Solutions by 2.1% during the 2nd quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock valued at $588,000 after purchasing an additional 158 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its position in shares of Cognizant Technology Solutions by 2.0% in the 3rd quarter. Uncommon Cents Investing LLC now owns 8,400 shares of the information technology service provider’s stock valued at $563,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $74.57 on Wednesday. The company has a fifty day moving average price of $82.78 and a two-hundred day moving average price of $74.96. Cognizant Technology Solutions Corporation has a one year low of $65.15 and a one year high of $90.82. The stock has a market cap of $35.99 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.34 and a quick ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.31 billion. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. Cognizant Technology Solutions’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.25%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. BMO Capital Markets reiterated a “market perform” rating and set a $96.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, January 29th. Berenberg Bank set a $107.00 price target on Cognizant Technology Solutions and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, TD Cowen reiterated a “hold” rating and set a $85.00 price objective (up from $84.00) on shares of Cognizant Technology Solutions in a report on Thursday, February 5th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $90.89.

Insider Activity at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.52, for a total value of $584,640.00. Following the transaction, the director directly owned 47,729 shares of the company’s stock, valued at $3,986,326.08. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred on 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 directly owned 36,149 shares in the company, 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 29,434 shares of company stock valued at $2,460,809 in the last ninety days. Company insiders own 0.32% of the company’s stock.

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.