Rockefeller Capital Management L.P. raised its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 123.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,283 shares of the information technology service provider’s stock after acquiring an additional 2,364 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cognizant Technology Solutions were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of CTSH. Acima Private Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $29,000. Sontag Advisory LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $30,000. Somerset Trust Co boosted its holdings in Cognizant Technology Solutions by 152.0% in the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 298 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Cognizant Technology Solutions in the first quarter worth approximately $37,000. Finally, Nelson Roberts Investment Advisors LLC boosted its holdings in Cognizant Technology Solutions by 7,175.0% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 582 shares of the information technology service provider’s stock worth $42,000 after purchasing an additional 574 shares during the last quarter. 89.27% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Malcolm Frank sold 685 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $60.52, for a total transaction of $41,456.20. Following the completion of the transaction, the insider now directly owns 28,886 shares in the company, valued at approximately $1,748,180.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Allen Shaheen sold 1,369 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $60.16, for a total value of $82,359.04. Following the transaction, the executive vice president now owns 3,073 shares of the company’s stock, valued at $184,871.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,618 shares of company stock valued at $3,078,514. Corporate insiders own 0.56% of the company’s stock.
CTSH has been the topic of several analyst reports. Daiwa Capital Markets assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, February 13th. They set a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, April 8th. TheStreet cut shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd. Nomura cut shares of Cognizant Technology Solutions to a “hold” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.55.
Shares of NASDAQ CTSH traded down $0.90 during trading on Wednesday, hitting $62.47. 79,236 shares of the company were exchanged, compared to its average volume of 4,794,599. The firm has a market capitalization of $36.08 billion, a P/E ratio of 15.64, a PEG ratio of 1.59 and a beta of 1.05. Cognizant Technology Solutions Corp has a 1 year low of $56.73 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.90 and a current ratio of 2.90.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.
ILLEGAL ACTIVITY WARNING: “Cognizant Technology Solutions Corp (NASDAQ:CTSH) Position Raised by Rockefeller Capital Management L.P.” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2019/06/12/cognizant-technology-solutions-corp-nasdaqctsh-position-raised-by-rockefeller-capital-management-l-p.html.
Cognizant Technology Solutions Company 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.
Read More: What is diluted earnings per share (Diluted EPS)?
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.