Voya Investment Management LLC Sells 687,255 Shares of Cognizant Technology Solutions Corporation $CTSH

by · The Markets Daily

Voya Investment Management LLC reduced its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSHFree Report) by 79.9% in the 3rd quarter, Holdings Channel reports. The firm owned 172,874 shares of the information technology service provider’s stock after selling 687,255 shares during the period. Voya Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $11,595,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 1.3% in the second quarter. Vanguard Group Inc. now owns 59,854,530 shares of the information technology service provider’s stock worth $4,670,449,000 after buying an additional 746,732 shares during the last quarter. State Street Corp lifted its position in Cognizant Technology Solutions by 0.6% during the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after acquiring an additional 157,427 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 2.2% during the second quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock valued at $1,361,677,000 after acquiring an additional 375,619 shares during the period. Geode Capital Management LLC grew its position in shares of Cognizant Technology Solutions by 1.5% in the second quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock valued at $1,091,391,000 after purchasing an additional 206,532 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cognizant Technology Solutions in the second quarter worth about $487,526,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $85.21 on Tuesday. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The stock has a market cap of $41.13 billion, a P/E ratio of 19.77, a PEG ratio of 1.74 and a beta of 0.97. The company’s 50-day simple moving average is $75.02 and its 200 day simple moving average is $73.76.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last released its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The company’s quarterly 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. As a group, research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTSH shares. Citigroup started coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price for the company. Royal Bank Of Canada reduced their price objective on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday, December 15th. Wells Fargo & Company increased their price target on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.44.

Read Our Latest Report on Cognizant Technology Solutions

Insider Activity

In other news, Director Michael Patsalos-Fox sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $83.52, for a total value of $584,640.00. Following the sale, the director owned 47,729 shares of the company’s stock, valued at approximately $3,986,326.08. This represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the chief accounting officer directly owned 36,149 shares of the company’s stock, valued at $2,891,920. This represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 15,256 shares of company stock worth $1,233,684. Corporate insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

Further Reading

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