Grimes & Company Inc. lifted its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,190 shares of the information technology service provider’s stock after purchasing an additional 977 shares during the quarter. Grimes & Company Inc.’s holdings in Cognizant Technology Solutions were worth $6,279,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Capital LLC increased its stake in Cognizant Technology Solutions by 12.4% in the second quarter. Cedar Capital LLC now owns 31,533 shares of the information technology service provider’s stock valued at $1,999,000 after acquiring an additional 3,486 shares during the last quarter. MU Investments Co. Ltd. boosted its position in Cognizant Technology Solutions by 2.0% during the second quarter. MU Investments Co. Ltd. now owns 86,700 shares of the information technology service provider’s stock valued at $5,467,000 after buying an additional 1,700 shares during the period. Fiera Capital Corp boosted its position in Cognizant Technology Solutions by 2.2% during the second quarter. Fiera Capital Corp now owns 285,226 shares of the information technology service provider’s stock valued at $18,080,000 after buying an additional 6,190 shares during the period. Johnson Financial Group Inc. boosted its position in Cognizant Technology Solutions by 76.5% during the second quarter. Johnson Financial Group Inc. now owns 4,107 shares of the information technology service provider’s stock valued at $260,000 after buying an additional 1,780 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $476,000. 91.23% of the stock is currently owned by hedge funds and other institutional investors.
In other Cognizant Technology Solutions news, Director John E. Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $61.13, for a total transaction of $611,300.00. Following the completion of the transaction, the director now owns 459,987 shares of the company’s stock, valued at $28,119,005.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Matthew W. Friedrich sold 3,104 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $62.23, for a total transaction of $193,161.92. The disclosure for this sale can be found here. Insiders have sold 18,823 shares of company stock valued at $1,169,337 in the last ninety days. Insiders own 0.56% of the company’s stock.
Several research firms have issued reports on CTSH. ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Robert W. Baird set a $76.00 price target on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Friday, September 6th. Citigroup cut their price target on shares of Cognizant Technology Solutions from $76.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a research report on Thursday, September 5th. Finally, Edward Jones upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Monday. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $71.48.
CTSH traded down $0.13 on Monday, hitting $62.73. The company had a trading volume of 35,464 shares, compared to its average volume of 4,136,774. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.53 and a quick ratio of 2.53. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $74.85. The stock has a fifty day simple moving average of $60.68 and a 200-day simple moving average of $62.73. The firm has a market capitalization of $34.28 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.42 and a beta of 1.05.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business posted $1.05 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a $0.20 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.80 annualized dividend and a yield of 1.28%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
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.
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