Asset Management One Co. Ltd. grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 216,815 shares of the information technology service provider’s stock after purchasing an additional 3,538 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $16,443,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Tempus Wealth Planning LLC boosted its stake in Cognizant Technology Solutions by 10.0% during the fourth quarter. Tempus Wealth Planning LLC now owns 4,098 shares of the information technology service provider’s stock worth $310,000 after acquiring an additional 373 shares in the last quarter. Birch Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 7.4% during the 4th quarter. Birch Capital Management LLC now owns 30,011 shares of the information technology service provider’s stock worth $2,267,000 after purchasing an additional 2,057 shares in the last quarter. Camelot Portfolios LLC grew its stake in shares of Cognizant Technology Solutions by 95.3% in the 4th quarter. Camelot Portfolios LLC now owns 16,829 shares of the information technology service provider’s stock valued at $1,271,000 after buying an additional 8,210 shares during the period. Trust Point Inc. bought a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $219,000. Finally, Iowa State Bank raised its stake in Cognizant Technology Solutions by 1.5% during the 4th quarter. Iowa State Bank now owns 46,233 shares of the information technology service provider’s stock worth $3,492,000 after buying an additional 661 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.
Cognizant Technology Solutions Trading Down 0.7 %
Shares of CTSH stock opened at $71.13 on Friday. The stock has a market capitalization of $35.41 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.63 and a beta of 1.06. The company’s fifty day simple moving average is $76.19 and its two-hundred day simple moving average is $72.50. Cognizant Technology Solutions Co. has a 1 year low of $58.09 and a 1 year high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.
Cognizant Technology Solutions Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.57%.
Insider Activity
In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
CTSH has been the subject of several recent research reports. Mizuho initiated coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price objective for the company. Societe Generale restated a “sell” rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Citigroup raised their price objective on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada raised their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $75.65.
Get Our Latest Stock Analysis on Cognizant Technology Solutions
About Cognizant Technology Solutions
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.
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