Advisory Resource Group decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,611 shares of the information technology service provider’s stock after selling 2,160 shares during the quarter. Advisory Resource Group’s holdings in Cognizant Technology Solutions were worth $4,678,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Unigestion Holding SA lifted its stake in shares of Cognizant Technology Solutions by 148.6% in the 3rd quarter. Unigestion Holding SA now owns 10,256 shares of the information technology service provider’s stock valued at $792,000 after acquiring an additional 6,131 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Cognizant Technology Solutions by 118.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 271,533 shares of the information technology service provider’s stock worth $20,957,000 after purchasing an additional 147,511 shares in the last quarter. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions in the third quarter valued at about $968,000. Coldstream Capital Management Inc. boosted its stake in shares of Cognizant Technology Solutions by 14.8% during the third quarter. Coldstream Capital Management Inc. now owns 8,172 shares of the information technology service provider’s stock valued at $636,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after purchasing an additional 173,667 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CTSH has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.47.
Insider Buying and Selling
In other news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.
Cognizant Technology Solutions Stock Up 0.5 %
Cognizant Technology Solutions stock opened at $80.50 on Wednesday. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $77.95 and a 200-day moving average price of $74.26. The company has a market capitalization of $39.91 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.24 and a beta of 1.06.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.
Cognizant Technology Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.
About Cognizant Technology Solutions
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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