Norden Group LLC acquired a new stake in Cognizant Technology Solutions Inc. (NASDAQ:CTSH – Free Report ) during the first quarter, the company announced in its latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,178 shares of the information technology services provider’s stock, worth roughly $233,000.
Other large investors also added to or reduced their stake in CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter, valued at approximately $26,000. Spire Wealth Management increased its stake in Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology services provider’s stock, valued at $34,000, after purchasing an additional 193 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Cognizant Technology Solutions in the fourth quarter, valued at approximately $40,000. Quarry LP purchased a new stake in Cognizant Technology Solutions in the fourth quarter, valued at approximately $43,000. Finally, Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisors Inc. now owns 590 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s shares.
Price Performance for Cognizant Technology Solutions
Shares of NASDAQ:CTSH opened at $71.53 on Friday. The company has a market cap of $35.56 billion, a price-to-earnings ratio (PE) of 17.19, a PEG ratio of 2.10 and a beta of 1.05. The company’s 50-day moving average price is $67.48 and its 200-day moving average price is $71.90. Cognizant Technology Solutions Inc.’s one-year low and high are $62.14 and $80.09, respectively. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.
Cognizant Technology Solutions (NASDAQ:CTSH – Get free report ) last released its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Revenue for the quarter was $4.76 billion, beating analysts’ estimates of $4.72 billion. Cognizant Technology Solutions had net margins of 10.84% ​​and return on equity of 17.48%. Cognizant Technology Solutions’ revenue decreased 1.1% year over year. Year-over-year earnings per share were $1.11. Equities analysts expect that Cognizant Technology Solutions Inc. will post $4.61 earnings per share 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. The ex-dividend date for this dividend was Friday, May 17th. This equates to an annualized dividend of $1.20 and a yield of 1.68%. Cognizant Technology Solutions has a dividend payout ratio of 28.85%.
Analysts Set New Price Targets
CTSH has been the topic of many analyst reports. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “in line with market” rating on the stock in a research report on Tuesday, April 30th. Citigroup lowered their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays lowered their price target on Cognizant Technology Solutions from $80.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. 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. Based on MarketBeat data, the stock currently has a consensus rating of “hold” and a consensus target price of $75.44.
Read the latest report 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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