Veritas Investment Management UK Ltd lifted its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,008 shares of the information technology service provider’s stock after acquiring an additional 2,888 shares during the quarter. Cognizant Technology Solutions makes up 5.2% of Veritas Investment Management UK Ltd’s holdings, making the stock its 9th biggest holding. Veritas Investment Management UK Ltd’s holdings in Cognizant Technology Solutions were worth $14,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. grew its stake in Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after purchasing an additional 788 shares during the period. Bank of Nova Scotia Trust Co. acquired a new stake in Cognizant Technology Solutions during the third quarter worth approximately $121,000. Cerebellum GP LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $128,000. WFG Advisors LP grew its stake in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Finally, Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions during the second quarter worth approximately $137,000. Institutional investors own 86.87% of the company’s stock.
CTSH has been the subject of several recent analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Oppenheimer reaffirmed a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Pivotal Research began coverage on Cognizant Technology Solutions in a research note on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, BMO Capital Markets reissued a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Buy” and a consensus price target of $84.32.
In other news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total value of $1,886,000.00. Following the completion of the transaction, the insider now directly owns 271,300 shares in the company, valued at $20,466,872. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the transaction, the chief executive officer now owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 994,079 shares of company stock worth $73,129,749. Corporate insiders own 1.08% of the company’s stock.
Shares of Cognizant Technology Solutions Corp (CTSH) traded up $0.68 on Wednesday, hitting $78.11. The company’s stock had a trading volume of 4,123,300 shares, compared to its average volume of 4,021,033. The company has a market capitalization of $46,150.00, a price-to-earnings ratio of 31.56, a PEG ratio of 1.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 52-week low of $57.00 and a 52-week high of $80.13.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. equities analysts forecast that Cognizant Technology Solutions Corp will post 4.17 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, February 21st. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Cognizant Technology Solutions’s payout ratio is presently 23.81%.
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Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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