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Whittier Trust Co. of Nevada Inc. raised its stake in Cognizant Technology Solutions Co. (NASDAQ: CTSH – Free Report ) during the fourth quarter, HoldingsChannel reports A decrease of 25.6%. The fund owned 3,179 shares of the information technology services provider after selling 1,093 shares during the quarter. As of the latest SEC filing, Whittier Trust Co. of Nevada Inc.’s stake in Cognizant Technology Solutions was worth $240,000.
Several other institutional investors have also bought and sold shares of CTSH recently. DA Davidson & CO. purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth approximately $256,000. Canada Pension Plan Investment Board increased its holdings in shares of Cognizant Technology Solutions by 84.4% in the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology services provider’s stock valued at $24,140,000 after purchasing an additional 123,220 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Cognizant Technology Solutions by 9.4% in the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology services provider’s stock valued at $1,594,000 after purchasing an additional 1,523 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth approximately $239,000. Finally, Brighton Jones LLC increased its holdings in shares of Cognizant Technology Solutions by 18.7% in the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology services provider’s stock valued at $312,000 after purchasing an additional 550 shares during the last quarter. Institutional investors hold 90.77% of the company’s shares.
Cognizant Technology Solutions Stock Performance
CTSH opened at $71.90 on Friday. The company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 17.12, a price-to-book growth rate of 1.65, and a beta of 1.07. Cognizant Technology Solutions Co. has a 52-week low of $57.24 and a 52-week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25, and a current ratio of 2.25. The business has a 50-day moving average of $77.13 and a 200-day moving average of $72.40.
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. The company’s revenue for the quarter was $4.76 billion, while analysts expected $4.76 billion. Cognizant Technology Solutions’ return on equity was 17.83% and its net profit margin was 10.98%. Cognizant Technology Solutions’ quarterly revenue fell 1.7% year over year. In the same period last year, the company earned $1.01 per share. Sell-side analysts expect Cognizant Technology Solutions Co. to 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. The ex-dividend date for this dividend is Friday, February 16. 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 1.67%. Cognizant Technology Solutions has a dividend payout ratio (DPR) of 28.57%.
Wall Street analysts forecast growth
CTSH has been the subject of many analyst reports. Citigroup raised their target price on Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their target price on 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. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. . BMO Capital Markets lowered their target price on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.73, according to MarketBeat.com.
Read our latest analysis for CTSH
Internal Activities of Cognizant Technology Solutions
In related news, Executive Vice President Kathryn Diaz sold 900 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold for an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal document filed with the U.S. Securities and Exchange Commission, which can be accessed at this link . 0.27% of the shares are currently owned by insiders.
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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