LVW Advisors LLC increased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – free report ) by 14.4% during the first quarter, the company announced in its latest 13F filing with the Securities and Exchange Commission. The firm bought an additional 774 shares during the quarter, bringing its holdings in the information technology services provider to 6,137 shares. LVW Advisors LLC’s holdings in Cognizant Technology Solutions were worth $450,000 at the end of the latest reporting period.
A number of other institutional investors and hedge funds are also buying and selling shares of the company. Vision Capital Management increased its holdings in Cognizant Technology Solutions by 0.4% in the fourth quarter. Vision Capital Management now owns 38,612 shares of the information technology services provider’s stock, valued at $2.916 million. It purchased an additional 144 shares in the last quarter. Nirsin Partners increased its holdings in Cognizant Technology Solutions by 4.3% in the fourth quarter. Nirsin Partners now owns 3,756 shares of the information technology services provider’s stock, valued at $284,000, after purchasing an additional 156 shares during the period. Unison Advisors increased its holdings in Cognizant Technology Solutions by 0.6% in the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology services provider’s stock valued at $2,142,000 after purchasing an additional 172 shares in the last quarter. Valley National Advisers Inc. increased its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. Finally, Signaturefd LLC increased its holdings in Cognizant Technology Solutions by 2.5% in the fourth quarter. Signaturefd LLC now owns 7,376 shares of the information technology services provider’s stock valued at $557,000 after acquiring an additional 181 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Rating Changes
Several analysts have commented on the company recently. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set an “in line with market” rating on the stock in a report on Tuesday, April 30th. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Barclays lowered their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on Cognizant Technology Solutions shares in a report on Thursday, May 2nd. Finally, Evercore ISI increased their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, and three have given a buy rating. According to data from MarketBeat.com, the company’s current consensus rating is a “hold” and the average target price is $75.44.
Check out the latest research report on CTSH
Cognizant Technology Solutions Stock Performance
Nasdaq CTSH opened trading at $67.74 on Tuesday. The company has a market capitalization of $33.68 billion, a price-to-earnings ratio (PE) of 16.24, a price-to-earnings growth ratio (PER) of 2.03 and a beta of 1.05. The stock’s 50-day simple moving average is $67.13 and its 200-day simple moving average is $72.34. Cognizant Technology Solutions Inc.’s one-year low and high are $62.14 and $80.09, respectively. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.
Cognizant Technology Solutions (NASDAQ:CTSH – Get free report ) announced its latest earnings results on Wednesday, May 1st. The information technology services provider reported quarterly earnings of $1.12 per share, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, beating the consensus estimate of $4.72 billion. During the same quarter last year, the company posted earnings per share of $1.11. The company’s quarterly revenue was down 1.1% year over year. Equities research analysts expect that Cognizant Technology Solutions Inc. will post $4.61 earnings per share for the current fiscal year.
Cognizant Technology Solutions announces dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a dividend of $0.30 per share. The ex-dividend date for this dividend was Friday, May 17th. This equates to a dividend of $1.20 on an annualized basis, or a yield of 1.77%. Cognizant Technology Solutions has a dividend payout ratio of 28.85%.
About Cognizant Technology Solutions
(Free report)
Cognizant Technology Solutions Corporation is a professional services company providing consulting, technology and outsourcing services throughout North America, Europe and internationally. The company operates through four segments: Financial Services, Health Sciences, Products & Resources, and Communications, Media & Technology.
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