HRT Financial LP acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,538 shares of the information technology service provider’s stock, valued at approximately $717,000.
Other large investors have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management increased its stake in Cognizant Technology Solutions by 75.6% in the 3rd quarter. Neo Ivy Capital Management now owns 504 shares of the information technology service provider’s stock valued at $29,000 after buying an additional 217 shares during the period. Harvest Fund Management Co. Ltd increased its stake in Cognizant Technology Solutions by 613.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 721 shares of the information technology service provider’s stock valued at $41,000 after buying an additional 620 shares during the period. Zions Bancorporation N.A. increased its stake in Cognizant Technology Solutions by 55.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 731 shares of the information technology service provider’s stock valued at $42,000 after buying an additional 260 shares during the period. CoreCap Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $42,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $43,000. Institutional investors and hedge funds own 90.12% of the company’s stock.
Cognizant Technology Solutions Trading Up 2.5 %
Shares of CTSH stock opened at $63.76 on Friday. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.18 and a current ratio of 2.18. The firm has a fifty day moving average of $61.18 and a 200-day moving average of $61.24. Cognizant Technology Solutions Co. has a 52-week low of $51.33 and a 52-week high of $74.54.
Cognizant Technology Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Friday, May 19th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 25.84%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CTSH. Bank of America dropped their price target on shares of Cognizant Technology Solutions from $59.00 to $55.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 19th. Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Cognizant Technology Solutions in a research note on Monday, March 13th. 51job restated a “reiterates” rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 4th. Robert W. Baird downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $66.00 to $68.00 in a report on Friday, February 3rd. Finally, Susquehanna decreased their price objective on shares of Cognizant Technology Solutions from $93.00 to $91.00 and set a “positive” rating for the company in a report on Friday, February 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $68.21.
Insider Buying and Selling
In other Cognizant Technology Solutions news, Director Maureen Breakiron-Evans sold 6,926 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $62.29, for a total value of $431,420.54. Following the completion of the sale, the director now owns 3,063 shares in the company, valued at approximately $190,794.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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