A number of other large investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its position in Cognizant Technology Solutions by 39.7% during the 3rd quarter. American Century Companies Inc. now owns 819,805 shares of the information technology service provider’s stock worth $55,534,000 after purchasing an additional 232,768 shares in the last quarter. Anchor Investment Management LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $902,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Cognizant Technology Solutions by 20.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,077 shares of the information technology service provider’s stock valued at $81,000 after acquiring an additional 185 shares in the last quarter. DNB Asset Management AS grew its position in Cognizant Technology Solutions by 30.2% during the 4th quarter. DNB Asset Management AS now owns 148,981 shares of the information technology service provider’s stock worth $11,253,000 after acquiring an additional 34,554 shares during the last quarter. Finally, Baron Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter worth about $218,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CTSH shares. JPMorgan Chase & Co. dropped their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 24th. They issued a “neutral” rating and a $72.00 price objective on the stock. Evercore ISI boosted their target price 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. BMO Capital Markets decreased their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. 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 MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $75.44.
Get Our Latest Stock Report on Cognizant Technology Solutions
Cognizant Technology Solutions Stock Performance
CTSH opened at $71.71 on Monday. The company has a market cap of $35.65 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 2.14 and a beta of 1.05. The company’s fifty day moving average price is $67.48 and its two-hundred day moving average price is $71.87. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year 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.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.
Cognizant Technology Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.
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.
Read More
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report).
Receive News & Ratings for Cognizant Technology Solutions Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cognizant Technology Solutions and related companies with MarketBeat.com’s FREE daily email newsletter.
link