Cidel Asset Management Inc. Sells 167 Shares of Cognizant Technology Solutions Corporation $CTSH

Cidel Asset Management Inc. reduced its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,171 shares of the information technology service provider’s stock after selling 167 shares during the quarter. Cidel Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth about $27,000. Geneos Wealth Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $61,000. Zions Bancorporation National Association UT purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $66,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 290.9% in the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider’s stock worth $69,000 after purchasing an additional 669 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTSH. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Evercore ISI began coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set an “outperform” rating and a $100.00 target price for the company. Guggenheim upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, July 18th. Finally, Wall Street Zen cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.79.

Cognizant Technology Solutions Trading Up 0.9%

NASDAQ CTSH opened at $66.08 on Monday. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a 50 day simple moving average of $69.23 and a two-hundred day simple moving average of $73.70. The stock has a market cap of $32.27 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the company earned $1.17 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. Cognizant Technology Solutions’s dividend payout ratio is currently 25.20%.

Cognizant Technology Solutions Company Profile

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.