The Vanguard Group, Inc. has recently announced that it has increased stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.73%. After grabbing 41.92 million shares, the institutional investor is now in possession of 0.3 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.26% having worth around $2.77 billion. Moreover, BlackRock Fund Advisors increased its share by 2.39 million to have a control over 28.17 million shares. And JPMorgan Investment Management, I raised its holdings to 67361.0 shares by acquiring 11.79 million shares or 2.32% of the stake.
Cognizant Technology Solutions Corporation (CTSH) concluded trading on 09/14/23 at a closing price of $70.97, with 2.35 million shares of worth about $166.86 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 24.36% during that period and on Thursday the price saw a gain of about 0.38%. Currently the company’s common shares owned by public are about 506.00M shares, out of which, 503.86M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 28 analysts are covering the CTSH stock and their offered price forecasts bring an average price target of $72.20. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $89.00 and could fall to a lowest price of $60.00. The stock’s current price level is 0.46% above of average price target set by the analysts, while a rise to estimated low would result in loss of -18.28% for the stock. However, touching the estimated high of $89.00 would mean a gain of 20.26% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 279 times over the past 12 months. They bought 288,893 shares in 170 of the transactions. In 109 selling transactions, insiders dumped 136,650 shares.
Vanguard Total Stock Market ETF, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Cognizant Technology Solutions Corporation Vanguard Total Stock Market ETF is currently holding 15.79 million shares of worth totaling $1.04 billion. The company recently came selling 16907.0 shares which brought its stake up to 3.11% of the company’s outstanding shares. Dodge & Cox Stock Fund bought 51000.0 shares, after which its hold over company’s outstanding shares expand to 2.83%, leaving 14.36 million shares with the mutual fund that have a worth of about $948.26 million. Vanguard 500 Index Fund, after buying 12.15 million shares, have now control over 2.39% of the stake in the company. It holds 67967.0 shares of worth $802.32 million.
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) started trading at $71.00, above $0.3 from concluding price of the previous day. However, the stock later moved at a day high price of 71.32, or with a gain of 0.38%. Stock saw a price change of -0.39% in past 5 days and over the past one month there was a price change of 2.29%. Year-to-date (YTD), CTSH shares are showing a performance of 24.10% which increased to 12.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $51.33 but also hit the highest price of $72.71 during that period. The average intraday trading volume for Cognizant Technology Solutions Corporation shares is 3.51 million. The stock is currently trading 0.68% above its 20-day simple moving average (SMA20), while that difference is up 2.86% for SMA50 and it goes to 11.81% higher than SMA200.
The Vanguard Group, Inc. acquired 41.92 million shares of Cognizant Technology Solutions Corporation having value of about $2.77 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.3 million shares in the company valued at close to $21485386.83, or have control over 0.73% stake in the company. Cognizant Technology Solutions Corporation (NASDAQ: CTSH) currently have 506.00M outstanding shares and institutions hold larger chunk of about 93.50% of that. Holding of mutual funds in the company is about 39.95% while other institutional holders and individual stake holders have control over 57.06% and 0.79% of the stake respectively.
The stock has a current market capitalization of $35.80B and its 3Y-monthly beta is at 1.09. PE ratio of stock for trailing 12 months is 16.55, while it has posted earnings per share of $4.29 in the same period. Its PEG reads 3.89 and has Quick Ratio of 2.30 while making debt-to-equity ratio of 0.05. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CTSH, volatility over the week remained 1.17% while standing at 1.21% over the month.
Analysts are in expectations that Cognizant Technology Solutions Corporation (CTSH) stock would likely to be making an EPS of $1.09 in the current quarter, while forecast for next quarter EPS is $1.07 and it is $4.69 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.01 which is $1.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.00% while it is estimated to increase by 7.01% in next year. EPS is likely to shrink at an annualized rate of 4.25% for next 5-years, compared to annual growth of 4.40% made by the stock over the past 5-years.
Analysts at 28 brokerage firms have issued recommendations for the Cognizant Technology Solutions Corporation (CTSH)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 28 Wall Street analysts, 5 recommended a “Buy” rating, while 18 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on August 22, 2023 offering a Neutral rating for the stock and assigned a target price range of between $72 and $77 to it.