Coronation Fund Managers Ltd. boosted its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,762,333 shares of the information technology service provider’s stock after acquiring an additional 54,575 shares during the period. Cognizant Technology Solutions accounts for approximately 5.4% of Coronation Fund Managers Ltd.’s holdings, making the stock its 5th biggest holding. Coronation Fund Managers Ltd. owned 0.30% of Cognizant Technology Solutions worth $111,873,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CTSH. Kistler Tiffany Companies LLC boosted its holdings in Cognizant Technology Solutions by 133.5% in the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 367 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at $43,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Cognizant Technology Solutions by 225.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 732 shares of the information technology service provider’s stock valued at $46,000 after acquiring an additional 507 shares in the last quarter. Essex Savings Bank bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at $96,000. Finally, Willingdon Wealth Management bought a new stake in Cognizant Technology Solutions in the third quarter valued at $120,000. Institutional investors and hedge funds own 86.73% of the company’s stock.
In related news, EVP Allen Shaheen sold 1,232 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total value of $88,100.32. Following the completion of the sale, the executive vice president now directly owns 6,120 shares in the company, valued at approximately $437,641.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,208 shares of Cognizant Technology Solutions stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $71.23, for a total value of $86,045.84. Following the completion of the sale, the insider now owns 13,963 shares of the company’s stock, valued at $994,584.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,071 shares of company stock valued at $1,873,915. 0.60% of the stock is owned by insiders.
Several analysts recently weighed in on the stock. Cowen cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a report on Monday, November 26th. Bank of America lowered their price objective on Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a research report on Friday, November 2nd. BMO Capital Markets lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $74.00 price objective for the company. in a research report on Wednesday, October 31st. Zacks Investment Research lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Finally, KeyCorp lowered their price objective on Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $81.81.
CTSH opened at $72.97 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $42.36 billion, a PE ratio of 18.15, a P/E/G ratio of 1.63 and a beta of 0.99. Cognizant Technology Solutions Corp has a 1 year low of $59.47 and a 1 year high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.07. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. Cognizant Technology Solutions’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Sell-side analysts forecast that Cognizant Technology Solutions Corp will post 4.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, February 20th. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.
Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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