Natixis Advisors LLC acquires 8,432 shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

VaselineSeptember 3, 2024

0 4 minutes read

Natixis Advisors LLC raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 574,222 shares of the information technology services provider’s stock after purchasing an additional 8,432 shares during the quarter. Natixis Advisors LLC’s holdings in Cognizant Technology Solutions were worth $39,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology services provider’s stock valued at $3,860,483,000 after buying an additional 7,445,089 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology services provider’s stock valued at $39,242,000 after purchasing an additional 38,526 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Cognizant Technology Solutions by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology services provider’s stock worth $266,000 after bought an additional 508 shares in the last quarter. Blair William & Co. IL grew its position in Cognizant Technology Solutions by 2.5% in the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology services provider’s stock valued at $1,231,000 after purchasing an additional 412 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $1,786,000. 92.44% of the shares are currently held by hedge funds and other institutional investors.

Inside activity at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 0.26% of shares are held by corporate insiders.

Analysts on Wall Street are forecasting an increase

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Several equities analysts recently issued reports on the stock. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Barclays boosted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Goldman Sachs Group upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $76.61, according to MarketBeat.

View the latest stock report on Cognizant Technology Solutions

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $77.77 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46, and a current ratio of 2.46. The company’s fifty day moving average price is $73.17 and its 200 day moving average price is $71.53. The stock has a market cap of $38.55 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.21 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Your Free Report ) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s quarterly revenue was down 0.7% year-over-year. In the same quarter last year, the company earned $1.10 per share. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Cognizant Technology Solutions profile

(Free report)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services in North America, Europe and internationally. It operates through four segments: Financial Services, Health Sciences, Products & Resources, and Communications, Media & Technology.