Keybank National Association OH lowered its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,317 shares of the information technology service provider’s stock after selling 802 shares during the period. Keybank National Association OH’s holdings in Cognizant Technology Solutions were worth $3,273,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. North Star Investment Management Corp. acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth about $25,000. Field & Main Bank lifted its stake in shares of Cognizant Technology Solutions by 350.0% in the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Berman Capital Advisors LLC raised its stake in Cognizant Technology Solutions by 137.7% during the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after buying an additional 369 shares in the last quarter. Citizens Financial Group Inc RI raised its stake in Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after buying an additional 187 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its stake in Cognizant Technology Solutions by 52.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock valued at $57,000 after buying an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 91.23% of the company’s stock.
Several analysts have issued reports on CTSH shares. BidaskClub cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. TheStreet upgraded Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. HSBC cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $70.00 in a research note on Tuesday, July 23rd. Zacks Investment Research cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Thursday, September 5th. Finally, Credit Suisse Group cut their price objective 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. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $71.48.
Shares of NASDAQ:CTSH traded down $0.17 during trading on Friday, hitting $62.86. 1,858,000 shares of the company traded hands, compared to its average volume of 4,136,774. Cognizant Technology Solutions Corp has a one year low of $56.73 and a one year high of $74.85. The business’s fifty day moving average is $60.68 and its 200-day moving average is $62.73. The stock has a market capitalization of $34.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.42 and a beta of 1.05. 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 (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
Cognizant Technology Solutions Profile
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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