Kathmere Capital Management LLC increased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – free report ) by 21.9% in the first quarter, according to the latest disclosures made to the Securities and Exchange Commission. The firm bought an additional 888 shares during the quarter, bringing its holdings in the information technology services provider to 4,937 shares. Kathmere Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $362,000 at the end of the most recent quarter.
Other hedge funds and institutional investors also recently added to or reduced shares in CTSH. IFG Advisory LLC increased its holdings in Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now holds 67,119 shares of the information technology services provider’s stock valued at $5,070,000 after acquiring an additional 20,874 shares during the period. Vanguard Group Inc. increased its holdings in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now holds 51,111,915 shares of the information technology services provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the quarter. Mitsubishi UFJ Asset Management Co., Ltd. increased its holdings in Cognizant Technology Solutions by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management now owns 532,677 shares of the information technology services provider’s stock, valued at $39,242,000, after purchasing an additional 38,526 shares during the period. Merit Financial Group increased its holdings in Cognizant Technology Solutions by 16.8% in the fourth quarter. Merit Financial Group now owns 3,523 shares of the information technology services provider’s stock, valued at $266,000, after purchasing an additional 508 shares during the quarter. Finally, International Asset Investment Management purchased a new stake in Cognizant Technology Solutions during the fourth quarter, valued at approximately $1,786,000. Institutional investors and hedge funds own 92.44% of the company’s shares.
Price Performance for Cognizant Technology Solutions
CTSH shares opened trading at $68.00 on Friday. The stock’s 50-day moving average is $67.13 and its 200-day moving average is $72.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Inc.’s 52-week low is $62.14 and its 52-week high is $80.09. The stock has a market cap of $33.81 billion, a price-to-earnings ratio (PE) of 16.35, a PEG ratio of 2.03 and a beta of 1.04.
Cognizant Technology Solutions (NASDAQ:CTSH – Get free report ) last released its quarterly earnings data 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. Cognizant Technology Solutions had net margins of 10.84% ​​and return on equity of 17.48%. The company had revenue of $4.76 billion for the quarter, compared to analyst expectations of $4.72 billion. Year-over-year earnings per share of $1.11 were recorded. The company’s quarterly revenue was down 1.1% year-over-year. Equity research analysts expect Cognizant Technology Solutions Inc 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 dividend of $0.30 per share. This equates to an annualized dividend of $1.20 and a dividend yield of 1.76%. The ex-dividend date for this dividend was Friday, May 17th. Cognizant Technology Solutions’ dividend payout ratio (DPR) is currently 28.85%.
Analyst Rating Changes
Several research firms have recently commented on CTSH. 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 research report on Tuesday, March 26th. Mizuho reaffirmed their “neutral” rating and set a $82.00 price target on Cognizant Technology Solutions in a research report on Tuesday, June 11th. Guggenheim initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. The firm set a “neutral” rating and a $80.00 price target on the company. Citigroup lowered their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22. Finally, Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, May 2. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, and three have given a buy rating. According to MarketBeat.com, the company has an average rating of “hold” and a consensus target price of $75.44.
Read our latest analysis on CTSH
Cognizant Technology Solutions Company 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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