Ossiam grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,191 shares of the information technology service provider’s stock after acquiring an additional 922 shares during the quarter. Ossiam’s holdings in Cognizant Technology Solutions were worth $1,601,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth about $46,000. Prudential PLC lifted its holdings in Cognizant Technology Solutions by 46.6% in the fourth quarter. Prudential PLC now owns 55,499 shares of the information technology service provider’s stock worth $4,192,000 after purchasing an additional 17,629 shares during the period. Exencial Wealth Advisors LLC lifted its holdings in Cognizant Technology Solutions by 3.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 34,881 shares of the information technology service provider’s stock worth $2,635,000 after purchasing an additional 1,164 shares during the period. Cibc World Markets Corp lifted its holdings in Cognizant Technology Solutions by 1,861.7% in the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after purchasing an additional 1,600,621 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Cognizant Technology Solutions by 373.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 76,159 shares of the information technology service provider’s stock worth $5,752,000 after purchasing an additional 60,086 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on CTSH shares. JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Barclays cut their price target on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Citigroup cut their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday. Finally, Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $75.67.
Check Out Our Latest Analysis on CTSH
Cognizant Technology Solutions Price Performance
Shares of CTSH opened at $67.25 on Tuesday. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.97 and a beta of 1.04. Cognizant Technology Solutions Co. has a fifty-two week low of $61.23 and a fifty-two week high of $80.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The business’s 50-day moving average is $67.92 and its 200-day moving average is $72.74.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and 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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