Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,583 shares of the information technology service provider’s stock after buying an additional 9,651 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cognizant Technology Solutions were worth $21,573,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisory LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $27,000. MV Capital Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 94.8% in the 4th quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock worth $27,000 after acquiring an additional 147 shares during the last quarter. Fieldpoint Private Securities LLC raised its holdings in shares of Cognizant Technology Solutions by 475.4% in the 4th quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 328 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Cognizant Technology Solutions by 44.4% in the 1st quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology service provider’s stock worth $43,000 after acquiring an additional 147 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of Cognizant Technology Solutions by 1,410.3% in the 4th quarter. CVA Family Office LLC now owns 589 shares of the information technology service provider’s stock worth $52,000 after acquiring an additional 550 shares during the last quarter. 90.73% of the stock is owned by institutional investors and hedge funds.
In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction on 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 directly owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew J. Stafford sold 5,867 shares of the firm’s stock in a transaction on 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 $453,553.28. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
Shares of CTSH opened at $68.03 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05. The firm’s fifty-day simple moving average is $73.07 and its 200-day simple moving average is $82.46. The firm has a market capitalization of $35.46 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.37 and a beta of 1.10. Cognizant Technology Solutions Co. has a twelve month low of $65.24 and a twelve month high of $93.47.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Friday, May 20th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 25.90%.
CTSH has been the topic of several recent analyst reports. Cowen decreased their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 11th. Citigroup decreased their price objective on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. Finally, Cowen decreased their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. One equity research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of $92.77.
Cognizant Technology Solutions Profile: (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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