Cognizant Technology Solutions Corporation $CTSH Shares Sold by Comerica Bank

Comerica Bank lessened its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,471 shares of the information technology service provider’s stock after selling 9,424 shares during the quarter. Comerica Bank’s holdings in Cognizant Technology Solutions were worth $12,738,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd bought a new position in Cognizant Technology Solutions during the third quarter worth $4,422,000. Alps Advisors Inc. lifted its stake in Cognizant Technology Solutions by 16.5% during the third quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock worth $20,529,000 after purchasing an additional 43,252 shares during the last quarter. Arjuna Capital lifted its stake in Cognizant Technology Solutions by 62.6% during the third quarter. Arjuna Capital now owns 24,622 shares of the information technology service provider’s stock worth $1,651,000 after purchasing an additional 9,482 shares during the last quarter. National Pension Service lifted its stake in Cognizant Technology Solutions by 5.5% during the third quarter. National Pension Service now owns 863,720 shares of the information technology service provider’s stock worth $57,930,000 after purchasing an additional 45,016 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Cognizant Technology Solutions by 11.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 193,464 shares of the information technology service provider’s stock worth $12,976,000 after purchasing an additional 19,177 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total value of $143,527.68. Following the completion of the sale, the insider owned 25,641 shares in the company, valued at $2,129,741.46. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTSH. Morgan Stanley set a $70.00 price objective on Cognizant Technology Solutions in a research note on Monday. TD Cowen reduced their price objective on Cognizant Technology Solutions from $85.00 to $71.00 and set a “hold” rating for the company in a research report on Friday, March 13th. Mizuho set a $87.00 price objective on Cognizant Technology Solutions in a research report on Monday, February 9th. Wells Fargo & Company restated an “overweight” rating and set a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Finally, Susquehanna restated a “positive” rating and set a $98.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.85.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $55.12 on Wednesday. Cognizant Technology Solutions Corporation has a fifty-two week low of $54.26 and a fifty-two week high of $87.03. The firm’s 50-day simple moving average is $61.36 and its 200 day simple moving average is $71.84. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. The stock has a market cap of $26.36 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.19 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, beating 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 business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company’s revenue 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. Equities analysts expect that Cognizant Technology Solutions Corporation will post 5.65 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.4%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is currently 29.01%.

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.