Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating ) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,433 shares of the information technology services provider’s stock, valued at approximately $218,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. boosted its holdings in Cognizant Technology Solutions by 94.8% in the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 147 shares during the last quarter. Cornerstone Advisory LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at about $27,000. Fieldpoint Private Securities LLC increased its holdings in shares of Cognizant Technology Solutions by 475.4% during the fourth quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 328 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Cognizant Technology Solutions by 44.4% in the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology services provider’s stock valued at $43,000 after buying an additional 147 shares during the last quarter. Finally, CVA Family Office LLC boosted its holdings in shares of Cognizant Technology Solutions by 1,410.3% during the fourth quarter. CVA Family Office LLC now owns 589 shares of the information technology services provider’s stock valued at $52,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s shares.
Shares of NASDAQ:CTSH opened at $68.03 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05. The firm has a market cap of $35.46 billion, a PE ratio of 16.31, a P/E/G ratio of 1.37 and a beta of 1.10. Cognizant Technology Solutions Co. has a twelve month low of $65.24 and a twelve month high of $93.47. The company has a 50-day moving average of $73.07 and a 200-day moving average of $82.44.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its earnings results on Wednesday, May 4th. The information technology services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The company’s quarterly revenue was up 9.7% year over year. During the same quarter last year, the business earned $0.97 earnings per share. Analysts expect Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, May 19th. This represents an annualized dividend of $1.08 and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio is currently 25.90%.
In other news, Executive Vice President Andrew J. Stafford sold 5,867 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the transaction, the executive vice president now directly owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. Also, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the transaction, the director now owns 57,534 shares of the company’s stock, valued at $4,280,529.60. Disclosure of this sale can be found here. 0.34% of shares are owned by company insiders.
Several analysts recently commented on the stock. StockNews.com downgraded shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 11th. Cowen cut their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Citigroup cut their target price on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. Finally, Cowen reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus target price of $92.77, based on data from MarketBeat.com.
About Cognizant Technology Solutions (Get Rating)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology services and outsourcing services in North America, Europe and internationally. It operates in four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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