Thomas White International Ltd. raised its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 50.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,139 shares of the information technology service provider’s stock after buying an additional 25,684 shares during the period. Cognizant Technology Solutions makes up approximately 1.0% of Thomas White International Ltd.’s holdings, making the stock its 23rd largest holding. Thomas White International Ltd.’s holdings in Cognizant Technology Solutions were worth $5,516,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Acima Private Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $30,000. Somerset Trust Co grew its position in shares of Cognizant Technology Solutions by 152.0% in the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 298 shares during the last quarter. Citizens Financial Group Inc RI grew its position in shares of Cognizant Technology Solutions by 176.5% in the fourth quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock valued at $39,000 after purchasing an additional 390 shares during the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $42,000. 88.67% of the stock is owned by institutional investors.
In other news, President Rajeev Mehta sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $71.50, for a total value of $1,430,000.00. Following the transaction, the president now owns 39,457 shares of the company’s stock, valued at approximately $2,821,175.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 2,877 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $71.71, for a total transaction of $206,309.67. Following the completion of the transaction, the general counsel now directly owns 800 shares in the company, valued at approximately $57,368. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,477 shares of company stock worth $3,201,495. 0.56% of the stock is owned by company insiders.
Shares of CTSH traded up $1.00 during mid-day trading on Tuesday, reaching $60.99. The company had a trading volume of 4,172,370 shares, compared to its average volume of 4,576,957. The firm has a market cap of $33.84 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $83.35. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.12). The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
CTSH has been the topic of a number of analyst reports. Wells Fargo & Co lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $82.00 to $75.00 in a research report on Tuesday, April 16th. BMO Capital Markets decreased their target price on shares of Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wedbush lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $70.00 in a research report on Friday, May 3rd. ValuEngine lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley set a $64.00 target price on shares of Cognizant Technology Solutions and gave the stock a “sell” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $75.55.
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About Cognizant Technology Solutions
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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