BTC Capital Management Inc. decreased its stake in Cognizant (NASDAQ:CTSH) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,640 shares of the information technology service provider’s stock after selling 3,795 shares during the quarter. BTC Capital Management Inc.’s holdings in Cognizant were worth $5,281,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. grew its position in shares of Cognizant by 108.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Cognizant in the fourth quarter valued at about $107,000. Clearbridge Investments LLC grew its position in shares of Cognizant by 101.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after purchasing an additional 813 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Cognizant in the fourth quarter valued at about $128,000. Finally, Bray Capital Advisors acquired a new stake in shares of Cognizant in the first quarter valued at about $161,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Shares of Cognizant opened at $75.75 on Tuesday, Marketbeat reports. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.06. Cognizant has a 12 month low of $65.17 and a 12 month high of $85.10. The stock has a market cap of $44.55 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.45 and a beta of 1.07.
Cognizant (NASDAQ:CTSH) last issued its earnings results on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. Cognizant had a net margin of 9.67% and a return on equity of 20.48%. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. Cognizant’s quarterly revenue was up 10.3% compared to the same quarter last year. research analysts anticipate that Cognizant will post 4.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Monday, May 21st. Cognizant’s dividend payout ratio (DPR) is presently 22.66%.
In other Cognizant news, insider Gajakarnan Vibushanan Kandiah sold 1,519 shares of Cognizant stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $84.62, for a total transaction of $128,537.78. Following the transaction, the insider now directly owns 10,584 shares of the company’s stock, valued at $895,618.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sumithra Gomatam sold 1,060 shares of Cognizant stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $80.50, for a total transaction of $85,330.00. Following the transaction, the insider now directly owns 8,189 shares in the company, valued at $659,214.50. The disclosure for this sale can be found here. Insiders have sold 44,684 shares of company stock worth $3,700,068 over the last ninety days. 0.60% of the stock is owned by insiders.
Several brokerages have recently issued reports on CTSH. BidaskClub lowered shares of Cognizant from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of Cognizant from a “buy” rating to a “sell” rating in a research report on Wednesday, May 9th. Credit Suisse Group set a $95.00 target price on shares of Cognizant and gave the company a “buy” rating in a research report on Tuesday, May 8th. Morgan Stanley dropped their target price on shares of Cognizant to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 8th. Finally, ValuEngine lowered shares of Cognizant from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Cognizant presently has an average rating of “Buy” and an average price target of $84.30.
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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