Stonebridge Capital Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,144 shares of the information technology service provider’s stock, valued at approximately $228,000.
Several other institutional investors also recently made changes to their positions in the company. Acima Private Wealth LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $30,000. Somerset Trust Co lifted its position in shares of Cognizant Technology Solutions by 152.0% in the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 298 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 280 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter worth $37,000. Hedge funds and other institutional investors own 89.27% of the company’s stock.
Cognizant Technology Solutions stock traded down $0.27 during trading hours on Friday, reaching $62.07. 63,075 shares of the stock were exchanged, compared to its average volume of 6,113,191. The company has a market capitalization of $35.38 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $83.35.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd were issued a $0.20 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 19.90%.
In other Cognizant Technology Solutions news, COO Srinivasan Veeraraghavachary sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $74.00, for a total transaction of $148,000.00. Following the completion of the transaction, the chief operating officer now owns 38,992 shares in the company, valued at approximately $2,885,408. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $62.85, for a total transaction of $94,275.00. Following the transaction, the chief financial officer now owns 67,423 shares of the company’s stock, valued at approximately $4,237,535.55. The disclosure for this sale can be found here. Insiders sold 24,104 shares of company stock valued at $1,526,535 in the last three months. Company insiders own 0.56% of the company’s stock.
CTSH has been the topic of a number of research reports. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, April 8th. TheStreet lowered shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 3rd. Wells Fargo & Co set a $63.00 price objective on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a report on Friday, May 3rd. Nomura downgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $75.55.
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About Cognizant Technology Solutions
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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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