Forsta AP Fonden cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,458 shares of the information technology service provider’s stock after selling 24,800 shares during the period. Forsta AP Fonden’s holdings in Cognizant Technology Solutions were worth $8,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after acquiring an additional 7,445,089 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cognizant Technology Solutions by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock worth $410,406,000 after purchasing an additional 238,551 shares during the period. Norges Bank purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $406,360,000. National Bank of Canada FI raised its position in shares of Cognizant Technology Solutions by 9.2% during the fourth quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock valued at $354,822,000 after buying an additional 401,076 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,078,205 shares of the information technology service provider’s stock worth $232,497,000 after buying an additional 36,189 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.
Cognizant Technology Solutions Price Performance
Shares of CTSH stock opened at $71.71 on Monday. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $67.48 and a two-hundred day simple moving average of $71.87. The stock has a market capitalization of $35.65 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.14 and a beta of 1.05.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CTSH. Mizuho reaffirmed a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. The Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They issued a “neutral” rating and a $72.00 target price on the stock. Barclays decreased their price objective on 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 increased their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Finally, BMO Capital Markets dropped their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. One research 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, the stock has a consensus rating of “Hold” and an average target price of $75.44.
View Our Latest Stock Analysis on CTSH
Cognizant Technology Solutions Profile
(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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