SeaBridge Investment Advisors LLC raised its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,003 shares of the information technology service provider’s stock after purchasing an additional 390 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $572,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CTSH. Kistler Tiffany Companies LLC boosted its position in shares of Cognizant Technology Solutions by 133.5% during the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after buying an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Cognizant Technology Solutions by 225.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 732 shares of the information technology service provider’s stock valued at $46,000 after buying an additional 507 shares during the period. Essex Savings Bank purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $96,000. Willingdon Wealth Management purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $120,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Cognizant Technology Solutions by 2,434.4% during the third quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock valued at $125,000 after buying an additional 1,558 shares during the period. Institutional investors and hedge funds own 86.13% of the company’s stock.
Several research analysts have issued reports on CTSH shares. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Cowen lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price target for the company. in a report on Sunday, December 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, October 30th. Finally, Nomura upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $81.81.
In related news, insider Gajakarnan Vibushanan Kandiah sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $71.23, for a total value of $86,045.84. Following the completion of the transaction, the insider now owns 13,963 shares of the company’s stock, valued at $994,584.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen Shaheen sold 1,232 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total transaction of $88,100.32. Following the completion of the transaction, the executive vice president now directly owns 6,120 shares of the company’s stock, valued at approximately $437,641.20. The disclosure for this sale can be found here. Insiders sold 28,071 shares of company stock valued at $1,873,915 in the last three months. 0.60% of the stock is currently owned by insiders.
Shares of NASDAQ CTSH opened at $73.16 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $42.26 billion, a P/E ratio of 18.20, a PEG ratio of 1.49 and a beta of 0.99. Cognizant Technology Solutions Corp has a 52-week low of $59.47 and a 52-week high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. Cognizant Technology Solutions’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Analysts anticipate that Cognizant Technology Solutions Corp will post 4.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, February 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.
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Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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