OLD National Bancorp IN lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,912 shares of the information technology service provider’s stock after selling 1,900 shares during the period. OLD National Bancorp IN’s holdings in Cognizant Technology Solutions were worth $665,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CTSH. Neo Ivy Capital Management increased its position 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 acquiring an additional 217 shares during the period. Harvest Fund Management Co. Ltd increased its position in Cognizant Technology Solutions by 613.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 721 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 620 shares during the period. CoreCap Advisors LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $43,000. Finally, Resurgent Financial Advisors LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 89.57% of the company’s stock.
Insider Transactions at Cognizant Technology Solutions
In other news, EVP Robert C. Walker sold 7,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $63.72, for a total transaction of $446,040.00. Following the completion of the sale, the executive vice president now directly owns 7,710 shares in the company, valued at approximately $491,281.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Michael Patsalos-Fox sold 6,926 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $62.79, for a total value of $434,883.54. Following the completion of the sale, the director now directly owns 64,695 shares in the company, valued at approximately $4,062,199.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert C. Walker sold 7,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $63.72, for a total value of $446,040.00. Following the completion of the sale, the executive vice president now owns 7,710 shares of the company’s stock, valued at $491,281.20. The disclosure for this sale can be found here. Insiders sold a total of 32,251 shares of company stock worth $2,022,847 in the last ninety days. Insiders own 0.27% of the company’s stock.
Analyst Ratings Changes
Cognizant Technology Solutions Trading Up 0.4 %
Shares of CTSH opened at $65.56 on Tuesday. The stock has a fifty day moving average of $62.51 and a two-hundred day moving average of $61.82. 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 company has a market capitalization of $33.27 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. Cognizant Technology Solutions Co. has a fifty-two week low of $51.33 and a fifty-two week high of $70.86.
Cognizant Technology Solutions (NASDAQ:CTSH – Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The information technology service provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.06. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.73 billion. Cognizant Technology Solutions had a return on equity of 18.63% and a net margin of 11.88%. Cognizant Technology Solutions’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.3 EPS for the current year.
Cognizant Technology Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Friday, May 19th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.77%. Cognizant Technology Solutions’s payout ratio is 25.84%.
Cognizant Technology Solutions Company 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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