Northern Trust Corp Lowers Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Northern Trust Corp lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,663,442 shares of the information technology service provider’s stock after selling 514,105 shares during the quarter. Northern Trust Corp owned 1.13% of Cognizant Technology Solutions worth $427,760,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth about $27,000. Spire Wealth Management boosted its stake in Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $52,000. 92.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of 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 SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of Cognizant Technology Solutions stock traded up $0.36 on Friday, reaching $66.67. The company had a trading volume of 198,194 shares, compared to its average volume of 4,131,113. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The firm’s 50-day moving average price is $68.16 and its two-hundred day moving average price is $72.76. The firm has a market cap of $33.15 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.96 and a beta of 1.04. Cognizant Technology Solutions Co. has a 1 year low of $61.23 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Guggenheim started coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Citigroup lowered their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Evercore ISI lifted their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $75.67.

Check Out Our Latest Report on CTSH

About Cognizant Technology Solutions

(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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