VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 961,375 shares of the information technology service provider’s stock after buying an additional 148,275 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.20% of Cognizant Technology Solutions worth $79,794,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Win Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $203,000. ABC Arbitrage SA purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $217,000. AG2R LA Mondiale Gestion D Actifs raised its position in Cognizant Technology Solutions by 12.1% during the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 21,807 shares of the information technology service provider’s stock valued at $1,810,000 after purchasing an additional 2,354 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $828,000. Finally, Valeo Financial Advisors LLC raised its position in Cognizant Technology Solutions by 6.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,045 shares of the information technology service provider’s stock valued at $336,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.
Cognizant Technology Solutions Stock Down 3.1%
NASDAQ CTSH opened at $47.73 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $22.62 billion, a PE ratio of 10.38, a PEG ratio of 1.04 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 1 year low of $47.50 and a 1 year high of $87.03. The business’s 50-day moving average is $59.39 and its 200 day moving average is $70.96.
Cognizant Technology Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Cognizant Technology Solutions’s payout ratio is presently 28.70%.
Analysts Set New Price Targets
A number of research firms have weighed in on CTSH. Robert W. Baird set a $72.00 price target on Cognizant Technology Solutions and gave the company a “neutral” rating in a research report on Friday, April 10th. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, January 26th. Wedbush decreased their price objective on Cognizant Technology Solutions from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Jefferies Financial Group decreased their price objective on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.33.
Read Our Latest Analysis on CTSH
About Cognizant Technology Solutions
Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.
Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.
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