Dean Investment Associates LLC lessened its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,291 shares of the information technology service provider’s stock after selling 1,645 shares during the quarter. Dean Investment Associates LLC’s holdings in Cognizant Technology Solutions were worth $4,446,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rainier Group Investment Advisory LLC bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at $100,000. Kaizen Advisory LLC boosted its position in Cognizant Technology Solutions by 149.4% during the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after acquiring an additional 856 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its position in Cognizant Technology Solutions by 170.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after acquiring an additional 1,202 shares in the last quarter. Bray Capital Advisors bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at $161,000. Finally, Parallel Advisors LLC boosted its position in Cognizant Technology Solutions by 65.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock valued at $175,000 after acquiring an additional 881 shares in the last quarter. 87.97% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on CTSH shares. Zacks Investment Research cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. BidaskClub cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Credit Suisse Group set a $95.00 price objective on Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Morgan Stanley lowered their price objective on Cognizant Technology Solutions to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 8th. Finally, Pivotal Research reissued a “buy” rating and issued a $91.00 price objective on shares of Cognizant Technology Solutions in a research report on Monday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average price target of $85.52.
In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 4,983 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $82.04, for a total transaction of $408,805.32. Following the completion of the transaction, the chief financial officer now owns 43,887 shares in the company, valued at approximately $3,600,489.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,200 shares of Cognizant Technology Solutions stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $76.87, for a total value of $92,244.00. Following the transaction, the insider now owns 12,861 shares of the company’s stock, valued at approximately $988,625.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,620 shares of company stock valued at $5,797,997. 0.60% of the stock is currently owned by insiders.
Shares of CTSH opened at $75.56 on Friday. Cognizant Technology Solutions Corp has a one year low of $69.24 and a one year high of $85.10. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.84 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.39 and a beta of 0.94.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. equities research analysts expect that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.
Cognizant Technology Solutions Corp is a computer and technology company in the IT Consulting & Other Services industry.
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