Envestnet Asset Management Inc. Cuts Holdings in Cognizant Technology Solutions Corporation $CTSH

Envestnet Asset Management Inc. reduced its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,873 shares of the information technology service provider’s stock after selling 16,205 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Cognizant Technology Solutions worth $29,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NewSquare Capital LLC lifted its holdings 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. High Note Wealth LLC increased its holdings in shares of Cognizant Technology Solutions by 22,450.0% in the 3rd quarter. High Note Wealth LLC now owns 451 shares of the information technology service provider’s stock valued at $30,000 after purchasing an additional 449 shares in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $39,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Cognizant Technology Solutions by 267.7% in the third 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 purchasing an additional 439 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $41,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insiders Place Their Bets

In other news, insider Surya Gummadi sold 1,728 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $83.06, for a total transaction of $143,527.68. Following the transaction, the insider directly owned 25,641 shares in the company, valued at $2,129,741.46. This represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Patsalos-Fox sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the completion of the sale, the director directly owned 29,729 shares in the company, valued at $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,434 shares of company stock worth $2,460,809 in the last three months. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets set a $83.00 price target on Cognizant Technology Solutions in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday, January 26th. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, November 21st. Finally, Guggenheim restated a “buy” rating and issued a $100.00 price target (up previously from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.17.

Cognizant Technology Solutions Stock Down 7.2%

CTSH opened at $65.83 on Friday. The firm has a market cap of $31.77 billion, a P/E ratio of 14.47, a PEG ratio of 1.54 and a beta of 0.95. The business’s fifty day simple moving average is $82.32 and its 200 day simple moving average is $74.87. Cognizant Technology Solutions Corporation has a 52 week low of $65.00 and a 52 week high of $90.82. The company has a quick ratio of 2.36, a current ratio of 2.34 and a debt-to-equity ratio of 0.04.

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

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is 27.25%.

Cognizant Technology Solutions Company 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.