Great West Life Assurance Co. Can strengthened its position in Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get an estimate) by 1.8% in the third quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 746,423 shares of the information technology service provider’s stock after acquiring an additional 12,845 shares during the quarter. Great West Life Assurance Co. Can owned 0.14% of Cognizant Technology Solutions worth $42,851,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new stake in Cognizant Technology Solutions in the second quarter valued at about $26,000. Prospera Financial Services Inc increased its position in Cognizant Technology Solutions by 77.0% in the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 171 shares during the period. Hexagon Capital Partners LLC boosted its position in Cognizant Technology Solutions by 492.9% in the third quarter. Hexagon Capital Partners LLC now owns 587 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 488 shares during the period. Valley National Advisers Inc. boosted its position in Cognizant Technology Solutions by 32.4% during the second quarter. Valley National Advisers Inc now owns 637 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 156 shares during the period. Finally, Massmutual Trust Co. increased FSB ADV increased its position in Cognizant Technology Solutions by 263.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 781 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 566 shares during the period. Institutional investors own 90.12% of the company’s shares.
A Wall Street analyst weighs in
Several research firms have issued reports on CTSH. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $65.00 to $71.00 and gave the company a “market perform” rating in a research report on Friday. William Blair cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 3rd. Wolfe Research lowered shares of Cognizant Technology Solutions from an “outperform” rating to an “underperform” rating and set a $49.00 target price for the company. in a report on Thursday, January 5th. TheStreet lowered shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a report on Thursday, September 29th. Finally, Barclays reduced their target price on shares of Cognizant Technology Solutions from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Sunday, November 6th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $69.84, according to MarketBeat.
Cognizant Technology Solutions price performance
Shares NASDAQ CTSH opened at $64.06 on Friday. Cognizant Technology Solutions Co. the fifty-two week low is $51.33 and the fifty-two week high is $93.47. The company has a 50 day simple moving average of $58.54 and a two hundred day moving average of $62.04. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.24 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.27, and a current ratio of 2.27.
Cognizant Technology Solutions (NASDAQ: CTSH – Get an estimate) last released its earnings results on Wednesday, November 2nd. The information technology services provider reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. Cognizant Technology Solutions had a net margin of 12.11% and a return on equity of 19.55%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $5.01 billion. analysts expect that Cognizant Technology Solutions Co will post 4.43 EPS for the current fiscal year.
Cognizant Technology Solutions dividend announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Friday, November 18th were paid a dividend of $0.27 per share. This translates to an annualized dividend of $1.08 and a dividend yield of 1.69%. The ex-dividend date was Thursday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is 24.00%.
Insider Activities at Cognizant Technology Solutions
In related news, Director Leo S. Jr. Mackay sold 3,300 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $52.79, for a total transaction of $174,207.00. Following the completion of the sale, the director now owns 28,310 shares of the company’s stock, valued at $1,494,484.90. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this hyperlink. 0.34% of the shares are owned by insiders.
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; Healthcare; Products and Resources; and communications, media and technology.
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