Cognizant Technology Solutions (NASDAQ:CTSH) Research Coverage Started at Berenberg Bank

Berenberg Bank started coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report released on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $107.00 price objective on the information technology service provider’s stock.

Several other brokerages have also recently issued reports on CTSH. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Monday, December 29th. Finally, UBS Group restated a “neutral” rating and set a $82.00 price objective (up previously from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Eight 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 company presently has an average rating of “Hold” and an average target price of $88.22.

Cognizant Technology Solutions Stock Down 0.5%

Cognizant Technology Solutions stock opened at $84.18 on Thursday. Cognizant Technology Solutions has a 52 week low of $65.15 and a 52 week high of $90.82. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.61 and a beta of 0.96. The company’s 50-day moving average price is $81.71 and its two-hundred day moving average price is $74.68. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

Insider Activity at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the completion of the sale, the chief executive officer directly owned 75,209 shares of the company’s stock, valued at approximately $6,397,277.54. This trade represents a 3.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,206 shares of company stock worth $2,505,231. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently bought and sold shares of CTSH. Norges Bank acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $487,526,000. CIBC Bancorp USA Inc. purchased a new position in Cognizant Technology Solutions during the third quarter valued at approximately $201,834,000. Voloridge Investment Management LLC grew its position in Cognizant Technology Solutions by 801.4% during the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock valued at $141,134,000 after purchasing an additional 1,870,834 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Cognizant Technology Solutions by 152.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock valued at $211,332,000 after buying an additional 1,636,636 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Cognizant Technology Solutions by 144.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,631,890 shares of the information technology service provider’s stock worth $176,521,000 after buying an additional 1,554,648 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.