Simmons Bank decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,267 shares of the information technology service provider’s stock after selling 530 shares during the quarter. Simmons Bank’s holdings in Cognizant Technology Solutions were worth $2,534,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its position in shares of Cognizant Technology Solutions by 2.4% in the third quarter. Segall Bryant & Hamill LLC now owns 8,163 shares of the information technology service provider’s stock valued at $606,000 after acquiring an additional 190 shares during the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $231,000. Strategy Asset Managers LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $1,500,000. Louisiana State Employees Retirement System increased its position in shares of Cognizant Technology Solutions by 1.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 60,800 shares of the information technology service provider’s stock valued at $5,394,000 after acquiring an additional 900 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Cognizant Technology Solutions by 17.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 20,544 shares of the information technology service provider’s stock valued at $1,823,000 after acquiring an additional 3,125 shares during the last quarter. 90.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on CTSH. Citigroup reduced their price objective on Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Cowen dropped their price target on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. Finally, Cowen dropped their price target on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.77.
Shares of Cognizant Technology Solutions stock opened at $68.03 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a twelve month low of $65.24 and a twelve month high of $93.47. The stock has a market cap of $35.46 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.37 and a beta of 1.10. The company’s fifty day moving average is $73.07 and its 200 day moving average is $82.44.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $1.08 dividend on an annualized basis and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 25.90%.
In other news, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total transaction of $423,112.80. Following the transaction, the director now owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the transaction, the executive vice president now directly owns 5,872 shares in the company, valued at approximately $453,553.28. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
About Cognizant Technology Solutions: (Get Rating)
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; Healthcare; Products and Resources; and Communications, Media and Technology.
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