Cognizant Technology Solutions Corporation (CTSH) to Distribute Quarterly Dividend of $0.33 on November 25th

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be paid a dividend of $0.33 per share by the information technology service provider on Wednesday, November 25th. This represents a $1.32 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 13th.

Cognizant Technology Solutions has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 6 years. Cognizant Technology Solutions has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cognizant Technology Solutions to earn $6.32 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 20.9%.

Cognizant Technology Solutions Stock Up 4.1%

Shares of CTSH stock opened at $65.11 on Friday. Cognizant Technology Solutions has a 12 month low of $37.08 and a 12 month high of $87.03. The company has a quick ratio of 2.18, a current ratio of 2.22 and a debt-to-equity ratio of 0.11. The firm has a market cap of $29.33 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. The stock has a 50 day moving average of $62.20 and a 200-day moving average of $59.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. Cognizant Technology Solutions had a return on equity of 17.72% and a net margin of 11.75%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions will post 5.75 EPS for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently modified their holdings of CTSH. Marquette Asset Management LLC raised its position in Cognizant Technology Solutions by 183.9% during the third quarter. Marquette Asset Management LLC now owns 545 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 353 shares in the last quarter. Signature Equity Partners LLC increased its position in shares of Cognizant Technology Solutions by 102.4% during the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $35,000. Alpine Bank Wealth Management bought a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $38,000. Finally, Salomon & Ludwin LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.