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American Century Companies Inc. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 39.7% during the third quarter, according to Holdings Channel.com. The company owns 819,805 shares of the information technology services provider after purchasing an additional 232,768 shares during the period. American Century Companies Inc.’s stake in Cognizant Technology Solutions was valued at $55,534,000 as of the most recent SEC filings.
Several other institutional investors also bought and sold shares of the company. BlackRock boosted its holdings in shares of Cognizant Technology Solutions by 3.7% in the second quarter. BlackRock now owns 60,098,017 shares of the information technology services provider’s shares valued at $3,923,199,000, after acquiring an additional 2,163,022 shares during the period. State Street Corp increased its holdings in shares of Cognizant Technology Solutions by 2.2% in the first quarter. State Street Bank now owns 22,415,954 shares of the information technology services provider’s stock valued at $1,365,793,000, after acquiring an additional 473,809 shares during the period. JPMorgan Chase increased its holdings in shares of Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology services provider’s shares valued at $1,196,547,000, after acquiring an additional 4,365,493 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cognizant Technology Solutions by 16.8% in the second quarter. Geode Capital Management LLC now owns 11,343,662 shares of the information technology services provider’s shares valued at $738,821,000, after acquiring an additional 1,633,309 shares during the period. Finally, Boston Partners increased its holdings in shares of Cognizant Technology Solutions by 3.0% during the third quarter. Boston Partners now owns 8,056,248 shares of the information technology services provider’s shares valued at $544,942,000, after acquiring an additional 231,782 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s shares.
insider trading
In other Cognizant Technology Solutions news, Executive Vice President Kathryn Diaz sold 900 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares sold for an average price of $77.06, for a total transaction price of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the U.S. Securities and Exchange Commission, which is available at this link . Company insiders own 0.27% of the shares.
Cognizant technology solutions cost-effective
CTSH stock opened Friday at $75.33. The company’s 50-day moving average price is $77.20 and its 200-day moving average price is $72.32. Cognizant Technology Solutions Co. has a 52-week low of $56.59 and a 52-week high of $80.09. The company has a market capitalization of $37.5 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.75, and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25, and a current ratio of 2.25.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report ) last issued its earnings results on Tuesday, February 6th. The information technology services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions has a net profit margin of 10.98% and a return on equity of 17.83%. The company’s revenue for the quarter was $4.76 billion, compared with analysts’ expectations of $4.76 billion. In the same period last year, the company earned $1.01 per share. Revenue from this business fell 1.7% year-on-year. Equity research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record were issued a $0.30 dividend on Tuesday, February 20th. This is a positive change from Cognizant Technology Solutions’ previous quarterly dividend of $0.29. This translates to an annualized dividend of $1.20 and a yield of 1.59%. The ex-dividend date for this dividend is Friday, February 16. Cognizant Technology Solutions has a dividend yield of 28.57%.
Analyst rating changes
Many brokerages have recently released CTSH reports. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Barclays raised their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 23rd. Wedbush raised their target price on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, December 26th. Mizuho first started coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a “neutral” rating and $82.00 target price on the stock. Finally, Citigroup increased their target price on Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “hold” and an average price target of $75.43, according to MarketBeat.com.
Check out our latest analysis for CTSH
Cognizant Technology Solutions Company Profile
(free report)
Cognizant Technology Solutions Corporation is a professional services firm providing consulting, technology and outsourcing services in North America, Europe and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.
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Want to see which other hedge funds hold CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Cognizant Technology Solutions Co. (NASDAQ: CTSH – Free Report).
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