Cognizant Technology Solutions Corporation $CTSH Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 815,979 shares of the information technology service provider’s stock after buying an additional 11,349 shares during the period. Bank of Nova Scotia owned about 0.17% of Cognizant Technology Solutions worth $54,728,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $214,000. Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 309 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $142,000. Allworth Financial LP grew its stake in shares of Cognizant Technology Solutions by 145.0% during the 2nd quarter. Allworth Financial LP now owns 6,867 shares of the information technology service provider’s stock worth $536,000 after purchasing an additional 4,064 shares during the period. Finally, Bailard Inc. purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at approximately $213,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity at Cognizant Technology Solutions

In related news, Director Michael Patsalos-Fox sold 4,000 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $85.30, for a total value of $341,200.00. Following the sale, the director directly owned 37,729 shares in the company, valued at approximately $3,218,283.70. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Surya Gummadi sold 1,728 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total value of $143,527.68. Following the transaction, the insider directly owned 25,641 shares of the company’s stock, valued at $2,129,741.46. The trade was a 6.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,678 shares of company stock valued at $1,415,075. 0.32% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $60.37 on Monday. The stock has a market capitalization of $28.87 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.31 and a beta of 1.00. The company’s fifty day moving average price is $74.08 and its 200 day moving average price is $73.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.14 and a current ratio of 2.14. Cognizant Technology Solutions Corporation has a 1 year low of $60.03 and a 1 year high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. Cognizant Technology Solutions’s dividend payout ratio is 29.01%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Cognizant Technology Solutions from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price objective (up from $95.00) on shares of Cognizant Technology Solutions in a report on Wednesday, January 28th. Wells Fargo & Company reiterated 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. Deutsche Bank Aktiengesellschaft raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, January 26th. Finally, Weiss Ratings upgraded Cognizant Technology Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $88.78.

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.