Envestnet Portfolio Solutions Inc. increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,939 shares of the information technology service provider’s stock after buying an additional 355 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cognizant Technology Solutions were worth $1,128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $27,000. Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares during the period. Valley National Advisers Inc. raised its position in shares of Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $52,000. 92.44% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cognizant Technology Solutions
In other news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
Cognizant Technology Solutions Stock Down 1.8 %
Shares of NASDAQ:CTSH opened at $68.76 on Friday. The company has a market capitalization of $34.19 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. 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 business has a fifty day moving average price of $70.24 and a two-hundred day moving average price of $72.73. Cognizant Technology Solutions Co. has a 1 year low of $61.12 and a 1 year high of $80.09.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Analysts forecast that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.75%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Evercore ISI upped their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. BMO Capital Markets decreased their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Barclays decreased their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $75.67.
Get Our Latest Stock Report on Cognizant Technology Solutions
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.
See Also
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