HL Financial Services LLC reduced its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,052 shares of the information technology service provider’s stock after selling 7,691 shares during the quarter. HL Financial Services LLC’s holdings in Cognizant Technology Solutions were worth $5,438,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CTSH. Plimoth Trust Co. LLC boosted its position in shares of Cognizant Technology Solutions by 0.6% in the 4th quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock valued at $1,529,000 after purchasing an additional 145 shares during the period. Segall Bryant & Hamill LLC raised its stake in Cognizant Technology Solutions by 1.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock valued at $751,000 after acquiring an additional 152 shares during the last quarter. Van ECK Associates Corp raised its stake in Cognizant Technology Solutions by 2.0% during the 4th quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock valued at $510,000 after acquiring an additional 155 shares during the last quarter. Kaizen Advisory LLC raised its stake in Cognizant Technology Solutions by 11.7% during the 4th quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock valued at $101,000 after acquiring an additional 167 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its stake in Cognizant Technology Solutions by 2.0% during the 4th quarter. Cozad Asset Management Inc. now owns 8,828 shares of the information technology service provider’s stock valued at $560,000 after acquiring an additional 172 shares during the last quarter. 89.27% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Robert Telesmanic sold 3,343 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.00, for a total transaction of $200,580.00. Following the sale, the senior vice president now owns 7,337 shares of the company’s stock, valued at $440,220. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $74.00, for a total value of $148,000.00. Following the sale, the chief operating officer now directly owns 38,992 shares in the company, valued at approximately $2,885,408. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,820 shares of company stock valued at $3,402,075. 0.56% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on the company. KeyCorp increased their target price on Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, February 7th. BMO Capital Markets raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 6th. Wells Fargo & Co downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $82.00 to $75.00 in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, April 8th. Finally, Daiwa Capital Markets began coverage on Cognizant Technology Solutions in a report on Wednesday, February 13th. They issued a “buy” rating and a $90.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $75.55.
Shares of NASDAQ CTSH traded down $0.19 during midday trading on Wednesday, reaching $61.88. 3,967,742 shares of the company’s stock were exchanged, compared to its average volume of 4,760,185. The firm has a market cap of $35.22 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.57 and a beta of 0.95. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.90 and a current ratio of 2.90.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. Cognizant Technology Solutions’s payout ratio is currently 19.90%.
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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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