Trust Co. of Toledo NA OH reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,487 shares of the information technology service provider’s stock after selling 300 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Cognizant Technology Solutions were worth $2,225,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Hoover Financial Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $27,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $27,000. Freedman Financial Associates Inc. acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $29,000. Catalyst Capital Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $31,000. Finally, Ellevest Inc. increased its position in shares of Cognizant Technology Solutions by 38.9% in the fourth quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 147 shares during the period. 87.66% of the stock is owned by institutional investors.
NASDAQ CTSH traded up $1.40 during trading on Thursday, reaching $80.61. The company’s stock had a trading volume of 45,728 shares, compared to its average volume of 2,962,873. The stock has a market capitalization of $42.77 billion, a PE ratio of 29.34, a P/E/G ratio of 1.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.62 and a quick ratio of 2.61. The firm has a fifty day moving average of $76.20 and a 200 day moving average of $76.41. Cognizant Technology Solutions Co. has a one year low of $47.39 and a one year high of $82.73.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 26th. Stockholders of record on Thursday, February 18th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, February 17th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.19%. Cognizant Technology Solutions’s dividend payout ratio is 24.06%.
A number of research analysts have issued reports on CTSH shares. Credit Suisse Group lifted their target price on Cognizant Technology Solutions from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, December 29th. They noted that the move was a valuation call. Societe Generale lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, February 4th. Barclays reissued a “sell” rating and issued a $54.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, December 22nd. Morgan Stanley raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $71.00 to $79.00 and gave the company a “hold” rating in a report on Monday, February 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $77.39.
In other news, insider Malcolm Frank sold 471 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $78.45, for a total transaction of $36,949.95. Following the transaction, the insider now directly owns 44,065 shares in the company, valued at approximately $3,456,899.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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