JPMorgan Investment Management, I recently announced the acquisition of new stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH). The institutional investor has increased its shareholding in the Technology company by 30.56% to 15.39 million shares with purchase of 3.6 million shares. This fresh investment now brings its stake to 3.07% valued currently at $1.08 billion. In addition, Geode Capital Management LLC raised its holdings by 0.22 million to 11.56 million shares.
Currently, there are 509.00M common shares owned by the public and among those 500.44M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 249 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 152 of these insider trades were purchases, accounting for 272,562 shares. Insider sales of the common stock occurred on 97 occasions, with total insider shares sold totaling 133,823 shares.
The top 3 mutual fund holders in Cognizant Technology Solutions Corp. are Vanguard Total Stock Market ETF, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 15.8 million shares of the company’s stock, all valued at over $1.11 billion. The company bought an additional 82013.0 shares recently to bring their total holdings to about 3.15% of the shares outstanding. Dodge & Cox Stock Fund bought 74200.0 shares to see its total holdings expand to 14.44 million shares valued at over $1.02 billion and representing 2.88% of the shares outstanding. Vanguard 500 Index Fund bought 61187.0 shares to bring its total holdings to over 12.2 million shares at a value of $858.55 million. Vanguard 500 Index Fund now owns shares totaling to 2.43% of the shares outstanding.
However, the script later moved the day high at 75.92, down -0.62%. The company’s stock has a 5-day price change of 4.69% and 8.52% over the past three months. CTSH shares are trading 31.89% year to date (YTD), with the 12-month market performance up to 35.76% higher. It has a 12-month low price of $54.25 and touched a high of $76.85 over the same period. CTSH has an average intraday trading volume of 3.36 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.40%, 10.59%, and 14.96% respectively.
Institutional ownership of Cognizant Technology Solutions Corp. (NASDAQ: CTSH) shares accounts for 94.46% of the company’s 509.00M shares outstanding. Mutual fund holders own 37.46%, while other institutional holders and individual stakeholders account for 58.09% and 0.80% respectively.
It has a market capitalization of $37.82B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 18.36, while the earnings-per-share (ttm) stands at $4.11. The company has a PEG of 4.18 and a Quick Ratio of 2.23 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.83% over the week and 1.43% over the month.
Analysts forecast that Cognizant Technology Solutions Corp. (CTSH) will achieve an EPS of $1.04 for the current quarter, $1.1 for the next quarter and $4.64 for 2024. The lowest estimate earnings-per-share for the quarter is $0.98 while analysts give the company a high EPS estimate of $1.08. Comparatively, EPS for the current quarter was $1.01 a year ago. Earnings per share for the fiscal year are expected to increase by 0.40%, and 4.69% over the next financial year. EPS should shrink at an annualized rate of 4.39% over the next five years, compared to 11.79% over the past 5-year period.
Looking at the support for the CTSH, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on December 14, 2023, with the firm’s price target at $61-$75.
