Hennion & Walsh Asset Management Inc. bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,489 shares of the information technology service provider’s stock, valued at approximately $268,000.
A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth about $1,972,000. Retirement Systems of Alabama grew its stake in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after acquiring an additional 40,226 shares during the period. Daiwa Securities Group Inc. increased its holdings in Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after acquiring an additional 11,349 shares in the last quarter. Trinity Legacy Partners LLC raised its stake in Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after acquiring an additional 7,547 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Cognizant Technology Solutions by 5.9% during the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock valued at $9,228,000 after purchasing an additional 6,626 shares in the last quarter. 92.44% of the stock is owned by institutional investors.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock opened at $78.45 on Wednesday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.03 and a beta of 1.07. The firm’s fifty day moving average is $78.86 and its 200 day moving average is $76.64. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.
Cognizant Technology Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.
Insider Activity
In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on CTSH shares. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $81.19.
View Our Latest Stock Analysis on Cognizant Technology Solutions
About Cognizant Technology Solutions
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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