Sequoia Financial Advisors LLC reduced its holdings in Cognizant Technology Solutions Inc. (NASDAQ:CTSH – free report ) by 18.6% during the first quarter, according to its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). The firm sold 1,791 shares during the period, leaving it holding 7,823 shares of the information technology services provider’s stock. Sequoia Financial Advisors LLC’s holdings of Cognizant Technology Solutions stock were worth $573,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings in CTSH. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $26,000. Spire Wealth Management increased its holdings 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 acquiring 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 holdings 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. 92.44% of the stock is owned by institutional investors and hedge funds.
Price Performance for Cognizant Technology Solutions
Cognizant Technology Solutions’ shares opened trading at $68.00 on Monday. The stock’s 50-day moving average price is $67.20 and 200-day moving average price is $72.09. Cognizant Technology Solutions’ one year low and high price are $62.14 and $80.09. 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 company has a market capitalization of $33.81 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05.
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 EPS of $1.12, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions’ ROE was 17.48%, with a net margin of 10.84%. The company’s revenue for the quarter was $4.76 billion, beating analysts’ estimates of $4.72 billion. EPS for the same quarter last year was $1.11. The company’s revenue decreased 1.1% year-over-year. Research analysts expect Cognizant Technology Solutions Inc. to post EPS 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. The ex-dividend date was Friday, May 17th. This equates to a dividend of $1.20 on an annualized basis, or a yield of 1.76%. Cognizant Technology Solutions’ dividend payout ratio (DPR) is currently 28.85%.
Wall Street analysts predict growth
Several research firms have recently issued reports on CTSH. Barclays lowered their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wedbush reaffirmed their “outperform” rating and set a $85.00 price target on Cognizant Technology Solutions in a research note on Thursday, May 2nd. Evercore ISI raised their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. The Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a research note on Monday, June 24th. The firm set a “neutral” rating and a $72.00 price target on the stock. Finally, Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One 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, Cognizant Technology Solutions has a consensus rating of “hold” and an average price target of $75.44.
Check out our latest stock analysis for Cognizant Technology Solutions
About Cognizant Technology Solutions
(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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