Whittier Trust Inc. reduced its position in shares of Cognizant Technology Solutions, Inc. (NASDAQ:CTSH – Free Report) by 11.4% in the fourth quarter, according to the company's latest disclosure filed with the Securities and Exchange Commission. The company owned 2,874 shares of the information technology services provider's stock after selling 368 shares during the period. Whittier Trust Co.'s holdings in Cognizant Technology Solutions were valued at $217,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also changed their holdings in CTSH. Norges Bank acquired new shares in Cognizant Technology Solutions in the 4th quarter valued at $374,413,000. JPMorgan Chase & Co. increased its stake in Cognizant Technology Solutions by 84.6% in the 1st quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology services provider's stock valued at $801,166,000 after purchasing an additional 6,027,057 shares in the last quarter. BlackRock Inc. raised its stake in Cognizant Technology Solutions by 3.7% in the 2nd quarter. BlackRock Inc. now owns 60,098,017 shares of the information technology services provider's stock valued at $3,923,199,000 after purchasing an additional 2,163,022 shares in the last quarter. National Bank of Canada FI grew its stake in Cognizant Technology Solutions by 69.3% in the 3rd quarter. National Bank of Canada FI now owns 4,368,034 shares of the information technology services provider's stock valued at $295,978,000 after purchasing an additional 1,788,329 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Cognizant Technology Solutions by 53.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,551,475 shares of the information technology services provider's stock valued at $231,070,000 after purchasing an additional 1,236,165 shares in the last quarter. Currently, 92.44% of the stock is held by institutional investors.
Insider Trading in Cognizant Technology Solutions
In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company's stock, valued at approximately $640,522.72. The transaction was disclosed in his SEC filing, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.
Cognizant Technology Solutions Inventory 0.2%
Cognizant Technology Solutions shares began trading at $72.01 on Tuesday. Cognizant Technology Solutions has a 1-year low of $58.09 and a 1-year high of $80.09. The company has a market capitalization of $35.85 billion, a P/E ratio of 17.15x, a price-to-earnings ratio of 1.64x, and a beta of 1.07x. His 50 day moving average for this company is $77.13 and his 200 day moving average is $72.41. The company has a debt-equity ratio of 0.05, a current ratio of 2.25, and a quick ratio of 2.25.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net profit margin of 10.98%. The company had revenue of $4.76 billion for the quarter, compared to analyst expectations of $4.76 billion. The company's earnings per share for the same period last year was $1.01. Revenue from this business decreased by 1.7% compared to the same period last year. As a group, equity analysts expect Cognizant Technology Solutions to post EPS of $4.6 for the current fiscal year.
Cognizant Technology Solutions increases dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This equates to his $1.20 dividend and his 1.67% dividend yield on an annualized basis. This is a positive change from Cognizant Technology Solutions' previous quarterly dividend of $0.29. Cognizant Technology Solutions' dividend payout ratio (DPR) is 28.57%.
Analyst rating changes
Many research companies have commented on CTSH. Guggenheim began coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They gave the stock a “neutral” rating and a $80.00 price target. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Mizuho began featuring Cognizant Technology Solutions in a research report on Tuesday, January 30th. They gave the company a “neutral” rating and set a price target of $82.00. Finally, Jefferies Financial Group upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. I pulled it up. 2 equity research analysts have rated the stock as a “sell,” 10 have rated it a “hold,” and 5 have rated it a “buy.” Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $75.73.
See our latest analysis for CTSH
Cognizant Technology Solutions Company Profile
(Free report)
Cognizant Technology Solutions Corporation is a professional services company providing consulting and technology and outsourcing services in North America, Europe, and internationally. He operates through four segments: Financial Services, Health Sciences, Products and Resources, Communications, and Media and Technology.
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