Westpac Banking Corp reduced its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,887 shares of the information technology service provider’s stock after selling 2,271 shares during the period. Westpac Banking Corp’s holdings in Cognizant Technology Solutions were worth $6,205,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. CWM LLC increased its stake in Cognizant Technology Solutions by 32.6% during the 2nd quarter. CWM LLC now owns 2,396 shares of the information technology service provider’s stock worth $152,000 after buying an additional 589 shares in the last quarter. United Asset Strategies Inc. grew its position in shares of Cognizant Technology Solutions by 29.8% in the second quarter. United Asset Strategies Inc. now owns 96,162 shares of the information technology service provider’s stock valued at $6,096,000 after purchasing an additional 22,104 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $305,000. Balter Liquid Alternatives LLC grew its position in shares of Cognizant Technology Solutions by 11.9% in the second quarter. Balter Liquid Alternatives LLC now owns 29,408 shares of the information technology service provider’s stock valued at $1,864,000 after purchasing an additional 3,131 shares in the last quarter. Finally, Genesis Asset Managers LLP grew its position in shares of Cognizant Technology Solutions by 15.4% in the second quarter. Genesis Asset Managers LLP now owns 5,129,800 shares of the information technology service provider’s stock valued at $325,178,000 after purchasing an additional 686,300 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.
CTSH traded up $0.59 during trading hours on Friday, reaching $61.17. The company’s stock had a trading volume of 52,958 shares, compared to its average volume of 3,582,643. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $78.59. The stock has a market cap of $33.79 billion, a PE ratio of 15.14, a P/E/G ratio of 1.54 and a beta of 1.01. The business’s 50-day moving average is $64.30 and its 200-day moving average is $67.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.
In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 3,343 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.00, for a total transaction of $200,580.00. Following the transaction, the senior vice president now directly owns 7,337 shares in the company, valued at $440,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 7,905 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $64.28, for a total value of $508,133.40. Following the transaction, the chief financial officer now owns 65,906 shares in the company, valued at $4,236,437.68. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock worth $2,960,866 over the last quarter. 0.56% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the company. Daiwa Capital Markets lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Oppenheimer lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Needham & Company LLC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. CIBC restated a “market perform” rating on shares of Cognizant Technology Solutions in a research report on Friday, May 3rd. Finally, Zacks Investment Research lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating and set a $68.00 price target for the company. in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.48.
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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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