Illinois Municipal Retirement Fund Grows Holdings in Cognizant Technology Solutions Corporation $CTSH

Illinois Municipal Retirement Fund increased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,002 shares of the information technology service provider’s stock after buying an additional 36,355 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of Cognizant Technology Solutions worth $26,452,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 2.2% in the 2nd 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 purchasing an additional 375,619 shares in the last quarter. Invesco Ltd. raised its stake in Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock valued at $923,925,000 after buying an additional 1,422,265 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider’s stock worth $520,651,000 after buying an additional 3,677,145 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Cognizant Technology Solutions by 9.9% in the 1st quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider’s stock worth $494,061,000 after acquiring an additional 579,175 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cognizant Technology Solutions by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider’s stock valued at $461,169,000 after acquiring an additional 28,646 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTSH shares. UBS Group set a $78.00 target price on shares of Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Thursday, October 30th. Royal Bank Of Canada lowered their price objective on shares of 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. Guggenheim reissued a “buy” rating and issued a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a research report on Thursday, October 30th. Finally, Wells Fargo & Company boosted their price objective on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.19.

Insider Activity

In other news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 36,630 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by insiders.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $73.20 on Monday. The company has a 50-day simple moving average of $69.14 and a 200 day simple moving average of $73.83. The company has a market capitalization of $35.75 billion, a P/E ratio of 16.98, 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. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 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 firm earned $1.25 EPS. Cognizant Technology Solutions’s 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. Q4 2025 guidance at EPS. Sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

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.