Skandinaviska Enskilda Banken AB publ Acquires 50,700 Shares of Cognizant Technology Solutions Corporation $CTSH

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ boosted its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSHFree Report) by 50.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 152,058 shares of the information technology service provider’s stock after acquiring an additional 50,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cognizant Technology Solutions were worth $11,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Cognizant Technology Solutions in the second quarter valued at approximately $74,917,000. Summit Global Investments boosted its holdings in shares of Cognizant Technology Solutions by 245.1% in the 2nd quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after purchasing an additional 25,276 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 6.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock valued at $13,600,000 after purchasing an additional 11,037 shares in the last quarter. LBP AM SA bought a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at $8,541,000. Finally, Swiss National Bank raised its holdings in shares of Cognizant Technology Solutions by 7.1% during the 2nd quarter. Swiss National Bank now owns 1,497,200 shares of the information technology service provider’s stock worth $116,827,000 after buying an additional 98,800 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.19.

Check Out Our Latest Analysis on CTSH

Cognizant Technology Solutions Price Performance

CTSH stock opened at $77.72 on Friday. The company has a market capitalization of $37.51 billion, a P/E ratio of 18.03, a PEG ratio of 1.47 and a beta of 0.98. The company has a fifty day moving average price of $70.31 and a 200-day moving average price of $73.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. Cognizant Technology Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.6%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.77%.

Insider Activity

In related news, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $75.18, for a total value of $187,950.00. Following the transaction, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at $2,753,843.40. The trade was a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

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 and Resources, and Communications, Media and Technology.

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