Telemus Capital LLC bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,925 shares of the information technology service provider’s stock, valued at approximately $260,000.
Several other hedge funds have also recently modified their holdings of CTSH. Private Advisor Group LLC increased its holdings in shares of Cognizant Technology Solutions by 76.5% in the third quarter. Private Advisor Group LLC now owns 13,834 shares of the information technology service provider’s stock worth $1,027,000 after purchasing an additional 5,994 shares during the last quarter. JJJ Advisors Inc. grew its position in Cognizant Technology Solutions by 398.9% in the third quarter. JJJ Advisors Inc. now owns 3,208 shares of the information technology service provider’s stock worth $238,000 after acquiring an additional 2,565 shares in the last quarter. Arkadios Wealth Advisors grew its position in Cognizant Technology Solutions by 52.0% in the third quarter. Arkadios Wealth Advisors now owns 409 shares of the information technology service provider’s stock worth $30,000 after acquiring an additional 140 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of Cognizant Technology Solutions by 6.9% during the third quarter. Kestra Advisory Services LLC now owns 11,478 shares of the information technology service provider’s stock valued at $852,000 after buying an additional 745 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Cognizant Technology Solutions by 5.5% during the third quarter. Kestra Private Wealth Services LLC now owns 15,978 shares of the information technology service provider’s stock valued at $1,186,000 after buying an additional 826 shares during the period. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:CTSH traded up $1.02 during trading hours on Thursday, reaching $87.93. The company’s stock had a trading volume of 50,893 shares, compared to its average volume of 2,967,294. The company has a market capitalization of $46.12 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.58 and a beta of 1.10. Cognizant Technology Solutions Co. has a 12 month low of $66.19 and a 12 month high of $93.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50 day moving average price of $88.44 and a two-hundred day moving average price of $83.78.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 18th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, February 17th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.23%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.67%.
In other news, Director Maureen Breakiron-Evans sold 6,371 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $87.76, for a total value of $559,118.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajesh Nambiar sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $90.50, for a total value of $452,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,149 shares of company stock worth $1,434,568. Insiders own 0.31% of the company’s stock.
Several brokerages have issued reports on CTSH. BMO Capital Markets boosted their target price on Cognizant Technology Solutions from $92.00 to $100.00 in a research report on Thursday, February 3rd. UBS Group upgraded Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and boosted their price target for the company from $58.50 to $89.00 in a report on Thursday, January 20th. Cowen boosted their price target on Cognizant Technology Solutions from $93.00 to $98.00 in a report on Thursday, February 3rd. The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a report on Sunday, January 9th. They issued a “buy” rating and a $104.00 price target for the company. Finally, Morgan Stanley lowered Cognizant Technology Solutions from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $91.00 to $95.00 in a report on Monday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Buy” and an average price target of $92.13.
About Cognizant Technology Solutions (Get Rating)
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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