NBT Bank N A NY Has $106,000 Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

NBT Bank N A NY lessened its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 21.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,388 shares of the information technology service provider’s stock after selling 384 shares during the period. NBT Bank N A NY’s holdings in Cognizant Technology Solutions were worth $106,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $36,000. Park Square Financial Group LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Venturi Wealth Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 85.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the information technology service provider’s stock worth $48,000 after acquiring an additional 286 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Guggenheim reissued a “neutral” rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Finally, Barclays decreased their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.00.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $79.14 on Thursday. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-week high of $90.82. The stock has a market cap of $39.01 billion, a PE ratio of 16.66, a PEG ratio of 1.82 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The firm’s 50 day moving average price is $77.15 and its two-hundred day moving average price is $79.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $1.12 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its board has authorized a stock repurchase program on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.11%.

Cognizant Technology Solutions Company 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.