South Texas Money Management Ltd. acquired a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,841 shares of the information technology service provider’s stock, valued at approximately $1,148,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Acima Private Wealth LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $30,000. Somerset Trust Co boosted its stake 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 valued at $36,000 after acquiring an additional 298 shares in the last quarter. Citizens Financial Group Inc RI boosted its stake in Cognizant Technology Solutions by 176.5% in the fourth quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock valued at $39,000 after acquiring an additional 390 shares in the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in Cognizant Technology Solutions by 133.5% in the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 367 shares in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.
NASDAQ:CTSH opened at $71.90 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. Cognizant Technology Solutions Corp has a 12 month low of $59.47 and a 12 month high of $83.35. The firm has a market cap of $41.35 billion, a PE ratio of 17.89, a P/E/G ratio of 1.66 and a beta of 0.97.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Corp will post 4.44 EPS for the current year.
In related news, insider Gajakarnan Vibushanan Kandiah sold 500 shares of the firm’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $68.03, for a total transaction of $34,015.00. Following the completion of the transaction, the insider now owns 15,339 shares of the company’s stock, valued at $1,043,512.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allen Shaheen sold 396 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $73.80, for a total transaction of $29,224.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,830 shares of company stock valued at $3,588,232. 0.60% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on CTSH. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. BMO Capital Markets upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 6th. Daiwa Capital Markets started 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 objective for the company. Wells Fargo & Co downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $82.00 to $75.00 in a research note on Tuesday. Finally, BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $80.29.
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About Cognizant Technology Solutions
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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