Avantax Advisory Services Inc. increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,702 shares of the information technology service provider’s stock after purchasing an additional 302 shares during the period. Avantax Advisory Services Inc.’s holdings in Cognizant Technology Solutions were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTSH. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. Spire Wealth Management lifted its stake in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Quarry LP bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $43,000. Finally, Valley National Advisers Inc. raised its holdings in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.
Cognizant Technology Solutions Stock Down 2.2 %
Shares of NASDAQ:CTSH opened at $74.33 on Monday. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.09. The company has a market capitalization of $36.96 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The company has a fifty day moving average of $68.19 and a 200-day moving average of $71.84.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.61%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.
Analyst Ratings Changes
Several research analysts have recently commented on CTSH shares. Barclays lowered their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI raised their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Susquehanna lowered their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group started coverage on shares of Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Citigroup decreased their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $75.44.
Read Our Latest Research Report on CTSH
About Cognizant Technology Solutions
(Free Report)
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.
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