Security National Bank of Sioux City Iowa IA boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 40.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,837 shares of the information technology service provider’s stock after acquiring an additional 10,385 shares during the period. Security National Bank of Sioux City Iowa IA’s holdings in Cognizant Technology Solutions were worth $1,388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTSH. Advisory Alpha LLC boosted its stake in shares of 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 valued at $497,000 after purchasing an additional 163 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Cognizant Technology Solutions by 26.8% during the fourth 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 last quarter. Parallel Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 2.2% during the fourth quarter. Parallel Advisors LLC now owns 8,610 shares of the information technology service provider’s stock worth $715,000 after buying an additional 186 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Cognizant Technology Solutions by 0.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 22,478 shares of the information technology service provider’s stock valued at $1,866,000 after buying an additional 200 shares during the period. Finally, Resources Management Corp CT ADV boosted its stake in Cognizant Technology Solutions by 6.1% in the fourth quarter. Resources Management Corp CT ADV now owns 3,695 shares of the information technology service provider’s stock valued at $307,000 after acquiring an additional 211 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Cognizant Technology Solutions Stock Down 3.2%
NASDAQ CTSH traded down $2.01 during trading hours on Friday, reaching $59.87. 19,126,200 shares of the company’s stock were exchanged, compared to its average volume of 8,168,164. The company’s 50-day moving average is $56.02 and its two-hundred day moving average is $54.82. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market capitalization of $26.97 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83.
Cognizant Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, August 18th. Cognizant Technology Solutions’s payout ratio is currently 28.39%.
Analyst Ratings Changes
A number of research firms have commented on CTSH. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. HSBC cut their price target on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Morgan Stanley reiterated a “negative” rating and issued a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Finally, Citigroup reissued a “neutral” rating and issued a $60.00 target price (up from $45.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.65.
Check Out Our Latest Report on CTSH
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation is a professional services and information technology company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company provides consulting, systems integration, application development and maintenance, and business process services to clients across industries.
Its offerings include cloud enablement, software engineering, data and analytics, artificial intelligence, cybersecurity, automation and digital workplace solutions.
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