Cambridge Investment Research Advisors Inc. cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,509 shares of the information technology service provider’s stock after selling 364 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $830,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management boosted its holdings in shares of Cognizant Technology Solutions by 75.6% in the 3rd quarter. Neo Ivy Capital Management now owns 504 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 217 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in Cognizant Technology Solutions by 613.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 721 shares of the information technology service provider’s stock worth $41,000 after acquiring an additional 620 shares during the last quarter. Zions Bancorporation N.A. increased its stake in Cognizant Technology Solutions by 55.2% during the third quarter. Zions Bancorporation N.A. now owns 731 shares of the information technology service provider’s stock worth $42,000 after acquiring an additional 260 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $43,000. Finally, General Partner Inc. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $46,000. 90.12% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on CTSH shares. BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions from $73.00 to $70.00 in a report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cognizant Technology Solutions from $54.00 to $67.00 in a research report on Friday, February 3rd. StockNews.com started coverage on Cognizant Technology Solutions in a research report on Thursday. They issued a “hold” rating on the stock. Bank of America decreased their target price on Cognizant Technology Solutions from $59.00 to $55.00 and set an “underperform” rating for the company in a research report on Wednesday, April 19th. Finally, Susquehanna dropped their target price on Cognizant Technology Solutions from $93.00 to $91.00 and set a “positive” rating on the stock in a report on Friday, February 3rd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.21.
Cognizant Technology Solutions Price Performance
Shares of NASDAQ CTSH opened at $63.01 on Monday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10. Cognizant Technology Solutions Co. has a twelve month low of $51.33 and a twelve month high of $75.40. The business has a 50 day simple moving average of $60.24 and a 200-day simple moving average of $60.77.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its earnings results on Wednesday, May 3rd. The information technology service provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.06. Cognizant Technology Solutions had a net margin of 11.88% and a return on equity of 18.63%. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.34 earnings per share for the current year.
Cognizant Technology Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Friday, May 19th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.16 dividend on an annualized basis and a yield of 1.84%. Cognizant Technology Solutions’s payout ratio is currently 25.84%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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