Duality Advisers LP purchased a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,443 shares of the information technology service provider’s stock, valued at approximately $1,616,000.
Several other large investors have also recently modified their holdings of CTSH. Eads & Heald Wealth Management boosted its position in Cognizant Technology Solutions by 1.6% during the 2nd quarter. Eads & Heald Wealth Management now owns 32,664 shares of the information technology service provider’s stock worth $1,856,000 after acquiring an additional 511 shares during the period. Eukles Asset Management lifted its position in shares of Cognizant Technology Solutions by 7.1% in the second quarter. Eukles Asset Management now owns 22,742 shares of the information technology service provider’s stock worth $1,292,000 after purchasing an additional 1,505 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cognizant Technology Solutions by 42.7% during the second quarter. Pacer Advisors Inc. now owns 162,755 shares of the information technology service provider’s stock worth $9,248,000 after purchasing an additional 48,726 shares during the period. Intact Investment Management Inc. grew its position in Cognizant Technology Solutions by 11.1% during the second quarter. Intact Investment Management Inc. now owns 12,000 shares of the information technology service provider’s stock valued at $681,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Aevitas Wealth Management Inc. grew its position in Cognizant Technology Solutions by 3.6% during the second quarter. Aevitas Wealth Management Inc. now owns 8,963 shares of the information technology service provider’s stock valued at $509,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.
Cognizant Technology Solutions stock opened at $68.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.66 and a quick ratio of 2.90. Cognizant Technology Solutions Corp has a fifty-two week low of $40.01 and a fifty-two week high of $71.48. The firm has a fifty day moving average price of $57.51 and a two-hundred day moving average price of $56.95. The firm has a market cap of $36.93 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.76 and a beta of 1.15.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.06%.
In related news, General Counsel Matthew W. Friedrich sold 459 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $54.62, for a total value of $25,070.58. Following the completion of the sale, the general counsel now owns 1,072 shares in the company, valued at $58,552.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Malcolm Frank sold 1,492 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total value of $81,806.36. Following the sale, the insider now directly owns 32,924 shares in the company, valued at $1,805,222.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,794 shares of company stock valued at $318,107. Corporate insiders own 0.31% of the company’s stock.
CTSH has been the subject of a number of research reports. Needham & Company LLC raised shares of Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. BMO Capital Markets raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $64.00 to $70.00 in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised Cognizant Technology Solutions from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $62.00 to $69.00 in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $66.67.
Cognizant Technology Solutions Company 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 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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