Ritholtz Wealth Management acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,642 shares of the information technology service provider’s stock, valued at approximately $416,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in Cognizant Technology Solutions by 2.0% in the fourth quarter. State Street Corp now owns 23,086,842 shares of the information technology service provider’s stock valued at $2,048,265,000 after acquiring an additional 452,967 shares in the last quarter. Invesco Ltd. raised its holdings in Cognizant Technology Solutions by 7.2% in the fourth quarter. Invesco Ltd. now owns 17,072,441 shares of the information technology service provider’s stock valued at $1,514,667,000 after acquiring an additional 1,139,513 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cognizant Technology Solutions by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 9,157,919 shares of the information technology service provider’s stock valued at $810,340,000 after acquiring an additional 516,378 shares in the last quarter. Boston Partners raised its holdings in Cognizant Technology Solutions by 26.6% in the fourth quarter. Boston Partners now owns 6,685,153 shares of the information technology service provider’s stock valued at $593,070,000 after acquiring an additional 1,405,697 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Cognizant Technology Solutions by 50.0% in the fourth quarter. First Trust Advisors LP now owns 5,934,516 shares of the information technology service provider’s stock valued at $526,510,000 after acquiring an additional 1,979,276 shares in the last quarter. 90.73% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the transaction, the director now directly owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
CTSH has been the topic of a number of research analyst reports. Cowen cut their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Cowen cut their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. StockNews.com cut shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 11th. Finally, Citigroup cut their price objective on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.53.
NASDAQ:CTSH opened at $69.91 on Tuesday. The firm’s fifty day moving average price is $74.46 and its 200 day moving average price is $82.86. Cognizant Technology Solutions Co. has a 1-year low of $65.24 and a 1-year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions’s payout ratio is currently 25.90%.
About Cognizant Technology Solutions (Get Rating)
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; Healthcare; Products and Resources; and Communications, Media and Technology.
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