WASHINGTON TRUST Co Has $4.49 Million Stake in Cognizant Technology Solutions Corporation $CTSH

WASHINGTON TRUST Co trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,490 shares of the information technology service provider’s stock after selling 3,027 shares during the quarter. WASHINGTON TRUST Co’s holdings in Cognizant Technology Solutions were worth $4,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in Cognizant Technology Solutions in the 2nd quarter worth about $27,000. NewSquare Capital LLC increased its stake in shares of Cognizant Technology Solutions by 71.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 153 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Cognizant Technology Solutions by 118.8% in the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 309 shares during the period. WPG Advisers LLC purchased a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at $61,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth $66,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

CTSH has been the topic of a number of analyst reports. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 30th. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an “outperform” rating and a $100.00 target price for the company. Wall Street Zen cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Royal Bank Of Canada lowered their price target on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $84.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Six 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 currently has a consensus rating of “Hold” and a consensus price target of $85.19.

Cognizant Technology Solutions Stock Up 0.3%

CTSH stock traded up $0.23 on Thursday, hitting $74.43. 248,129 shares of the company’s stock were exchanged, compared to its average volume of 3,988,656. The stock has a market cap of $35.92 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.36. The firm has a 50 day moving average price of $69.23 and a two-hundred day moving average price of $73.84. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. As a group, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $75.18, for a total transaction of $187,950.00. Following the completion of the transaction, the chief accounting officer owned 36,630 shares in the company, valued at approximately $2,753,843.40. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

About Cognizant Technology Solutions

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.