Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,787,652 shares of the information technology service provider’s stock after purchasing an additional 12,989 shares during the period. Cognizant Technology Solutions accounts for approximately 2.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 15th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Cognizant Technology Solutions were worth $137,918,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kaizen Advisory LLC increased its position in Cognizant Technology Solutions by 149.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after buying an additional 856 shares during the period. Fort L.P. bought a new position in Cognizant Technology Solutions in the 2nd quarter worth approximately $123,000. San Francisco Sentry Investment Group CA increased its position in Cognizant Technology Solutions by 170.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after buying an additional 1,202 shares during the period. Parallel Advisors LLC increased its position in Cognizant Technology Solutions by 65.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after buying an additional 881 shares during the period. Finally, Cerebellum GP LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $180,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.
Shares of NASDAQ:CTSH opened at $68.78 on Friday. Cognizant Technology Solutions Corp has a fifty-two week low of $65.14 and a fifty-two week high of $85.10. The firm has a market capitalization of $38.60 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.22 and a beta of 0.90. The company has a current ratio of 3.24, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 22.66%.
A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Moffett Nathanson assumed coverage on Cognizant Technology Solutions in a research report on Thursday, October 4th. They set a “neutral” rating and a $85.00 price objective on the stock. Cowen restated a “buy” rating and set a $87.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. BMO Capital Markets restated a “buy” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday. Finally, Bank of America cut Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $91.00 to $81.00 in a research report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Cognizant Technology Solutions has an average rating of “Buy” and a consensus price target of $85.11.
In other Cognizant Technology Solutions news, VP Malcolm Frank sold 859 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $75.20, for a total value of $64,596.80. Following the sale, the vice president now directly owns 19,761 shares in the company, valued at $1,486,027.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $74.89, for a total value of $26,361.28. The disclosure for this sale can be found here. Insiders sold 48,288 shares of company stock worth $3,694,551 over the last quarter. Company insiders own 0.60% of the company’s stock.
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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