TrimTabs Asset Management LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,724 shares of the information technology service provider’s stock, valued at approximately $1,404,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $27,000. Hoover Financial Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $27,000. Freedman Financial Associates Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $29,000. Catalyst Capital Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $31,000. Finally, Ellevest Inc. raised its holdings in Cognizant Technology Solutions by 38.9% during the 4th quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock worth $43,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 87.66% of the company’s stock.
Shares of NASDAQ CTSH traded up $1.40 during trading hours on Thursday, reaching $80.61. The stock had a trading volume of 45,728 shares, compared to its average volume of 2,962,873. The business’s fifty day moving average is $76.20 and its two-hundred day moving average is $76.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.62 and a quick ratio of 2.61. The company has a market cap of $42.77 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.83 and a beta of 1.12. Cognizant Technology Solutions Co. has a twelve month low of $47.39 and a twelve month high of $82.73.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, February 2nd. The information technology service provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.23). Cognizant Technology Solutions had a net margin of 8.78% and a return on equity of 19.04%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter last year, the company earned $1.07 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 3.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Thursday, February 18th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.19%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 17th. Cognizant Technology Solutions’s dividend payout ratio is 24.06%.
Several research firms have weighed in on CTSH. Berenberg Bank lifted their target price on Cognizant Technology Solutions from $70.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, February 2nd. Credit Suisse Group lifted their target price on Cognizant Technology Solutions from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 29th. They noted that the move was a valuation call. Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 6th. HSBC cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $80.00 target price on the stock. in a research note on Thursday, February 4th. Finally, Morgan Stanley raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 29th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.39.
In other Cognizant Technology Solutions news, insider Malcolm Frank sold 471 shares of the company’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $78.45, for a total value of $36,949.95. Following the sale, the insider now directly owns 44,065 shares in the company, valued at $3,456,899.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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