Ashton Thomas Private Wealth LLC reduced its holdings in Cognizant Technology Solutions Inc. (NASDAQ:CTSH – Free Report ) by 5.8% during the first quarter, according to the latest filing with the Securities and Exchange Commission (SEC). The institutional investor sold 1,441 shares during the period and now owns 23,266 shares of the information technology services provider’s stock. Ashton Thomas Private Wealth LLC’s holdings in Cognizant Technology Solutions are worth $1,705,000 as of the latest filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and institutional investors also recently modified their holdings in CTSH. Teza Capital Management LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter, valued at approximately $356,000. Gotham Asset Management LLC increased its holdings in Cognizant Technology Solutions by 3.1% in the third quarter. Gotham Asset Management LLC now owns 6,598 shares of the information technology services provider’s stock, valued at $447,000, after purchasing an additional 197 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Cognizant Technology Solutions by 15.4% in the third quarter. Ameriprise Financial Inc. now owns 661,426 shares of the information technology services provider’s stock, valued at $44,805,000, after purchasing an additional 88,223 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Cognizant Technology Solutions by 4.6% during the third quarter. Evergreen Capital Management LLC now holds 5,514 shares of the information technology services provider’s stock, valued at $374,000, after purchasing an additional 242 shares in the last quarter. Finally, JT Stratford LLC increased its holdings in Cognizant Technology Solutions by 38.6% during the third quarter. JT Stratford LLC now holds 10,801 shares of the information technology services provider’s stock, valued at $732,000, after purchasing an additional 3,008 shares in the last quarter. Hedge funds and other institutional investors hold 92.44% of the company’s stock.
Wall Street analysts predict growth
A number of research analysts have offered their opinions on CTSH stock. Evercore ISI increased their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Mizuho reaffirmed their “neutral” rating on Cognizant Technology Solutions with a price target of $82.00 in a report on Tuesday, June 11th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and gave the stock a “market-like” rating in a report on Tuesday, April 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, May 2. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, and three have given a buy rating. MarketBeat.com has given Cognizant Technology Solutions an average rating of a “hold” and an average target price of $75.44.
Check out the latest research report on CTSH
Cognizant Technology Solutions Stock Performance
CTSH’s shares opened trading at $68.00 on Friday. The stock’s 50-day simple moving average is $67.20 and its 200-day simple moving average is $72.13. The company’s debt-to-equity ratio is 0.04, quick ratio is 2.35 and current ratio is 2.35. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio (PE) of 16.35, a PEG ratio of 2.04 and a beta of 1.05. Cognizant Technology Solutions, Inc.’s one-year low and one-year high are $62.14 and $80.09, respectively.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report ) last released its earnings results on Wednesday, May 1st. The information technology services provider reported quarterly earnings per share of $1.12, beating the consensus estimate of $1.11 by $0.01. The company’s revenue for the quarter was $4.76 billion, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had return on equity of 17.48% and net margin of 10.84%. The company’s revenue decreased 1.1% year-over-year. During the same period last year, the company’s earnings per share were $1.11. Analysts on average are expecting Cognizant Technology Solutions to post earnings per share of $4.61 for the current fiscal year.
Cognizant Technology Solutions announces dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. This equates to an annualized dividend of $1.20, or a dividend yield of 1.76%. The ex-dividend date for this dividend was Friday, May 17th. Cognizant Technology Solutions’ dividend payout ratio is currently 28.85%.
Cognizant Technology Solutions Profile
(Free report)
Cognizant Technology Solutions Corporation is a professional services company providing consulting, technology and outsourcing services throughout North America, Europe and internationally. The company operates through four segments: Financial Services, Health Sciences, Products & Resources, and Communications, Media & Technology.
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