Security National Bank of Sioux City Iowa IA lifted its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,914 shares of the information technology service provider’s stock after buying an additional 875 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Cognizant Technology Solutions were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Star Investment Management Corp. bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $25,000. Field & Main Bank raised its stake in Cognizant Technology Solutions by 350.0% during the 2nd quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 350 shares during the period. Berman Capital Advisors LLC raised its stake in Cognizant Technology Solutions by 137.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after purchasing an additional 369 shares during the period. Citizens Financial Group Inc RI raised its stake in Cognizant Technology Solutions by 35.3% during the 2nd quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after purchasing an additional 187 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its stake in Cognizant Technology Solutions by 52.7% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock valued at $57,000 after purchasing an additional 308 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Edward Jones raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Credit Suisse Group decreased their target price on Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. BMO Capital Markets decreased their target price on Cognizant Technology Solutions to $75.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. ValuEngine raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays assumed coverage on Cognizant Technology Solutions in a research note on Friday, September 20th. They set an “underweight” rating and a $64.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $70.58.
NASDAQ CTSH traded up $0.42 during trading on Wednesday, hitting $64.15. 1,482,892 shares of the stock traded hands, compared to its average volume of 4,039,178. The company has a market capitalization of $35.13 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The firm has a 50-day simple moving average of $61.75 and a 200-day simple moving average of $62.33. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a 12-month low of $56.73 and a 12-month high of $74.85.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 3.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.
In other news, Director John E. Klein sold 10,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $61.13, for a total value of $611,300.00. Following the completion of the transaction, the director now owns 459,987 shares in the company, valued at approximately $28,119,005.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Matthew W. Friedrich sold 452 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $64.29, for a total value of $29,059.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,823 shares of company stock valued at $1,169,337. Company insiders own 0.56% of the company’s stock.
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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