Advisory Alpha LLC lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,442 shares of the information technology service provider’s stock after buying an additional 353 shares during the quarter. Advisory Alpha LLC’s holdings in Cognizant Technology Solutions were worth $265,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CTSH. Addison Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $30,000. Trust Co. of Vermont raised its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Insiders Place Their Bets
In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.
Cognizant Technology Solutions Stock Up 0.8 %
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.
Cognizant Technology Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. Cognizant Technology Solutions’s payout ratio is 26.55%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on CTSH shares. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho upped their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Finally, TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.19.
Read Our Latest 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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