Wealthspire Advisors LLC Buys Shares of 7,516 Cognizant Technology Solutions Corporation $CTSH

Wealthspire Advisors LLC acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,516 shares of the information technology service provider’s stock, valued at approximately $587,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new position in Cognizant Technology Solutions in the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC increased its position in shares of Cognizant Technology Solutions by 71.8% in the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after buying an additional 153 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Cognizant Technology Solutions by 118.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after buying an additional 309 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth about $61,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Cognizant Technology Solutions in the 1st quarter valued at about $66,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTSH. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a research report on Thursday, October 30th. Guggenheim reiterated a “buy” rating and set a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.19.

Cognizant Technology Solutions Trading Up 5.0%

CTSH stock opened at $75.98 on Friday. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.47 and a beta of 0.98. The company has a quick ratio of 2.41, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $69.54 and a 200-day simple moving average of $73.74. Cognizant Technology Solutions Corporation has a 52 week low of $65.15 and a 52 week 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 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 business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue for the quarter 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. Q4 2025 guidance at EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

Insider Buying and Selling at Cognizant Technology Solutions

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

Cognizant Technology Solutions 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.