Saratoga Research & Investment Management decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 48.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,529 shares of the information technology service provider’s stock after selling 7,126 shares during the quarter. Saratoga Research & Investment Management’s holdings in Cognizant Technology Solutions were worth $552,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Dark Forest Capital Management LP purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth $216,000. LPL Financial LLC increased its position in shares of Cognizant Technology Solutions by 14.9% during the third quarter. LPL Financial LLC now owns 126,168 shares of the information technology service provider’s stock worth $8,547,000 after acquiring an additional 16,400 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Cognizant Technology Solutions by 2.7% during the third quarter. Meeder Advisory Services Inc. now owns 7,385 shares of the information technology service provider’s stock worth $500,000 after acquiring an additional 192 shares during the period. MQS Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth $219,000. Finally, Treasurer of the State of North Carolina increased its position in shares of Cognizant Technology Solutions by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 236,783 shares of the information technology service provider’s stock worth $16,040,000 after acquiring an additional 870 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Cognizant Technology Solutions Stock Performance
Shares of CTSH traded up $0.27 during mid-day trading on Friday, hitting $68.00. 5,939,406 shares of the company’s stock were exchanged, compared to its average volume of 3,625,078. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09. The firm has a market capitalization of $33.81 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.03 and a beta of 1.04. The business’s 50 day moving average is $67.13 and its two-hundred day moving average is $72.35. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.
Cognizant Technology Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Evercore ISI upped their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Wedbush reissued an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Mizuho reissued a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Finally, BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $75.44.
View Our Latest Stock Analysis on CTSH
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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.
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