ProShare Advisors LLC boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 15.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 533,592 shares of the information technology service provider’s stock after purchasing an additional 73,232 shares during the period. ProShare Advisors LLC owned about 0.10% of Cognizant Technology Solutions worth $43,728,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its stake in Cognizant Technology Solutions by 63.2% in the 3rd quarter. Cerity Partners LLC now owns 16,916 shares of the information technology service provider’s stock valued at $1,174,000 after purchasing an additional 6,549 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its position in Cognizant Technology Solutions by 10.3% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 82,804 shares of the information technology service provider’s stock worth $6,786,000 after acquiring an additional 7,716 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $1,283,000. RBA Wealth Management LLC lifted its position in Cognizant Technology Solutions by 12.9% during the fourth quarter. RBA Wealth Management LLC now owns 26,803 shares of the information technology service provider’s stock worth $2,196,000 after acquiring an additional 3,063 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Cognizant Technology Solutions during the third quarter worth approximately $374,000. Institutional investors and hedge funds own 87.66% of the company’s stock.
In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,461 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $78.33, for a total value of $114,440.13. Following the completion of the sale, the insider now directly owns 37,975 shares of the company’s stock, valued at $2,974,581.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Matthew W. Friedrich sold 1,077 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $80.20, for a total transaction of $86,375.40. Following the completion of the sale, the general counsel now directly owns 5,043 shares of the company’s stock, valued at $404,448.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,561 shares of company stock worth $828,293. 0.31% of the stock is owned by company insiders.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, February 2nd. The information technology service provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.23). The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.25 billion. Cognizant Technology Solutions had a return on equity of 19.04% and a net margin of 8.78%. Cognizant Technology Solutions’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 3.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Thursday, February 18th will be issued a $0.24 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 17th. This represents a $0.96 annualized dividend and a yield of 1.31%. Cognizant Technology Solutions’s payout ratio is presently 24.06%.
Several equities research analysts have issued reports on the stock. Cowen upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $85.00 in a research report on Thursday, October 29th. UBS Group raised their price objective on shares of Cognizant Technology Solutions from $50.00 to $55.00 and gave the stock a “sell” rating in a research report on Friday, November 27th. Credit Suisse Group raised their target price on shares of Cognizant Technology Solutions from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 29th. They noted that the move was a valuation call. The Goldman Sachs Group began coverage on shares of Cognizant Technology Solutions in a report on Thursday, November 19th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 6th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $77.39.
Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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