Envestnet Portfolio Solutions Inc. Has $1.13 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Envestnet Portfolio Solutions Inc. lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,939 shares of the information technology service provider’s stock after purchasing an additional 355 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cognizant Technology Solutions were worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CTSH. IFG Advisory LLC lifted its stake in Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after acquiring an additional 20,874 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Cognizant Technology Solutions by 36.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock worth $83,145,000 after purchasing an additional 324,638 shares in the last quarter. PGGM Investments raised its stake in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after purchasing an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after purchasing an additional 704,932 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of Cognizant Technology Solutions by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock worth $266,000 after purchasing an additional 508 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH opened at $68.76 on Friday. The firm has a market capitalization of $34.19 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. The stock’s 50 day moving average price is $70.24 and its two-hundred day moving average price is $72.73. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12-month low of $61.12 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter last year, the firm posted $1.11 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Barclays cut their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Guggenheim initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $75.67.

Read Our Latest Research Report on Cognizant Technology Solutions

Cognizant Technology Solutions Profile

(Free Report)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.

See Also

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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