DGS Capital Management LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,628 shares of the information technology service provider’s stock after buying an additional 266 shares during the period. DGS Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $322,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Cognizant Technology Solutions by 11.9% in the third quarter. BlackRock Inc. now owns 54,965,447 shares of the information technology service provider’s stock valued at $3,157,215,000 after buying an additional 5,858,080 shares during the period. Vanguard Group Inc. raised its position in Cognizant Technology Solutions by 0.6% in the third quarter. Vanguard Group Inc. now owns 43,512,814 shares of the information technology service provider’s stock worth $2,499,377,000 after purchasing an additional 273,391 shares in the last quarter. Pzena Investment Management LLC raised its position in Cognizant Technology Solutions by 21.8% in the fourth quarter. Pzena Investment Management LLC now owns 17,357,679 shares of the information technology service provider’s stock worth $992,686,000 after purchasing an additional 3,102,695 shares in the last quarter. First Trust Advisors LP raised its position in Cognizant Technology Solutions by 66.7% in the fourth quarter. First Trust Advisors LP now owns 8,566,055 shares of the information technology service provider’s stock worth $489,891,000 after purchasing an additional 3,428,877 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Cognizant Technology Solutions by 13.2% in the third quarter. Alliancebernstein L.P. now owns 7,430,266 shares of the information technology service provider’s stock worth $426,794,000 after purchasing an additional 865,943 shares in the last quarter. Institutional investors own 90.12% of the company’s stock.
Insider Buying and Selling at Cognizant Technology Solutions
In other news, Director Leo S. Jr. Mackay sold 4,473 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $61.99, for a total transaction of $277,281.27. Following the completion of the transaction, the director now directly owns 26,671 shares in the company, valued at approximately $1,653,335.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leo S. Jr. Mackay sold 4,473 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $61.99, for a total value of $277,281.27. Following the completion of the sale, the director now owns 26,671 shares of the company’s stock, valued at approximately $1,653,335.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maureen Breakiron-Evans sold 6,926 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $62.29, for a total transaction of $431,420.54. Following the completion of the transaction, the director now directly owns 3,063 shares of the company’s stock, valued at $190,794.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,251 shares of company stock worth $2,022,847. Insiders own 0.27% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently issued reports on CTSH shares. BMO Capital Markets dropped their price target on shares of Cognizant Technology Solutions from $73.00 to $70.00 in a research report on Thursday, May 4th. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, May 4th. Bank of America dropped their price objective on shares of Cognizant Technology Solutions from $59.00 to $55.00 and set an “underperform” rating for the company in a report on Wednesday, April 19th. 51job reaffirmed a “reiterates” rating on shares of Cognizant Technology Solutions in a report on Thursday, May 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions in a report on Monday, March 13th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.21.
Cognizant Technology Solutions Trading Up 1.6 %
CTSH opened at $64.74 on Friday. The stock has a market capitalization of $32.85 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.36 and a beta of 1.10. Cognizant Technology Solutions Co. has a 12 month low of $51.33 and a 12 month high of $70.86. The firm’s fifty day simple moving average is $61.68 and its 200 day simple moving average is $61.44. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.05.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The information technology service provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.05 by $0.06. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Cognizant Technology Solutions had a net margin of 11.88% and a return on equity of 18.63%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.31 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Friday, May 19th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 25.84%.
Cognizant Technology Solutions Company Profile
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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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