Westpac Banking Corp Has $3.65 Million Stock Position in Cognizant Technology Solutions Corporation $CTSH

Westpac Banking Corp boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1,282.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,790 shares of the information technology service provider’s stock after buying an additional 43,405 shares during the quarter. Westpac Banking Corp’s holdings in Cognizant Technology Solutions were worth $3,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTSH. Hilltop National Bank bought a new position in shares of Cognizant Technology Solutions in the second quarter worth about $27,000. NewSquare Capital LLC lifted its holdings in shares of Cognizant Technology Solutions by 71.8% during the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after buying an additional 153 shares during the last quarter. Geneos Wealth Management Inc. boosted its position 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 acquiring an additional 309 shares during the period. WPG Advisers LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter worth $61,000. Finally, Zions Bancorporation National Association UT bought a new position in Cognizant Technology Solutions during the first quarter worth $66,000. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTSH has been the topic of several research reports. UBS Group set a $78.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “neutral” rating in a report on Thursday, October 30th. Citigroup began coverage on Cognizant Technology Solutions in a report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Guggenheim restated a “buy” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $85.19.

Insider Activity

In other news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at $2,753,843.40. This represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $72.62 on Friday. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The firm’s 50-day moving average price is $69.29 and its two-hundred day moving average price is $73.85. The company has a current ratio of 2.36, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $35.05 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 1.47 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results 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. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. On average, equities analysts predict 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 will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.77%.

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.