Nykredit A S bought a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 104,848 shares of the information technology service provider’s stock, valued at approximately $4,061,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Security National Bank of SO Dak lifted its holdings in shares of Cognizant Technology Solutions by 0.6% during the second quarter. Security National Bank of SO Dak now owns 24,635 shares of the information technology service provider’s stock valued at $1,922,000 after purchasing an additional 150 shares during the last quarter. Advisory Alpha LLC increased its stake in Cognizant Technology Solutions by 2.8% in the 4th quarter. Advisory Alpha LLC now owns 5,987 shares of the information technology service provider’s stock worth $497,000 after purchasing an additional 163 shares in the last quarter. Quarry LP raised its holdings in Cognizant Technology Solutions by 23.9% during the 4th quarter. Quarry LP now owns 844 shares of the information technology service provider’s stock worth $70,000 after buying an additional 163 shares during the period. Root Financial Partners LLC raised its holdings in Cognizant Technology Solutions by 26.8% during the 4th quarter. Root Financial Partners LLC now owns 780 shares of the information technology service provider’s stock worth $65,000 after buying an additional 165 shares during the period. Finally, Altman Advisors Inc. lifted its stake in Cognizant Technology Solutions by 0.7% during the fourth quarter. Altman Advisors Inc. now owns 23,313 shares of the information technology service provider’s stock valued at $1,935,000 after buying an additional 167 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.
Cognizant Technology Solutions Stock Performance
Shares of NASDAQ CTSH opened at $62.31 on Monday. The business’s 50-day moving average price is $52.50 and its two-hundred day moving average price is $55.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03. The company has a market capitalization of $28.07 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83.
Cognizant Technology Solutions declared that its board has authorized a stock buyback plan on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Cognizant Technology Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.39%.
Wall Street Analysts Forecast Growth
CTSH has been the subject of several research analyst reports. Nomura reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Guggenheim reissued a “buy” rating and set a $65.00 target price (down from $80.00) on shares of Cognizant Technology Solutions in a research note on Monday, July 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Royal Bank Of Canada set a $55.00 target price on Cognizant Technology Solutions in a research report on Friday, July 24th. Finally, Daiwa Securities Group lowered their price target on Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $63.00.
Get Our Latest Report on Cognizant Technology Solutions
Cognizant Technology Solutions Profile
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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