Tobam decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 89.8% in the third quarter, Holdings Channel reports. The fund owned 1,461 shares of the information technology service provider’s stock after selling 12,898 shares during the period. Tobam’s holdings in Cognizant Technology Solutions were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth about $28,000. Benjamin Edwards Inc. lifted its stake in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the period. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $40,000. 92.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Barclays increased their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Robert W. Baird increased their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $77.44.
Insiders Place Their Bets
In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.
Cognizant Technology Solutions Price Performance
Shares of CTSH stock opened at $74.50 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a market cap of $36.93 billion, a PE ratio of 16.97, a PEG ratio of 2.16 and a beta of 1.05. The firm’s 50 day moving average price is $75.95 and its two-hundred day moving average price is $71.46.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.
Cognizant Technology Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is presently 27.33%.
Cognizant Technology Solutions Profile
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.
Recommended Stories
- Five stocks we like better than Cognizant Technology Solutions
- How to Buy Cheap Stocks Step by Step
- Delta’s Earnings Miss? Wall Street Calls It a Buy Opportunity
- How to Calculate Return on Investment (ROI)
- MercadoLibre Targets Double-Digit Upside with Argentina Boom
- 3 Fintech Stocks With Good 2021 Prospects
- Domino’s Pizza Stock Delivers: A Hot Buy for Growth Investors
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.