Nordea Investment Management AB lessened its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,161,899 shares of the information technology service provider’s stock after selling 25,179 shares during the quarter. Cognizant Technology Solutions accounts for approximately 1.5% of Nordea Investment Management AB’s holdings, making the stock its 8th largest holding. Nordea Investment Management AB’s holdings in Cognizant Technology Solutions were worth $736,231,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Cognizant Technology Solutions by 4.7% in the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after purchasing an additional 2,129,464 shares in the last quarter. Vanguard Group Inc boosted its stake in Cognizant Technology Solutions by 0.6% in the third quarter. Vanguard Group Inc now owns 43,571,388 shares of the information technology service provider’s stock valued at $3,361,533,000 after acquiring an additional 241,595 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Cognizant Technology Solutions by 4.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 25,183,792 shares of the information technology service provider’s stock valued at $1,598,668,000 after acquiring an additional 1,106,129 shares during the last quarter. FMR LLC boosted its stake in Cognizant Technology Solutions by 39.0% in the fourth quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock valued at $821,416,000 after acquiring an additional 3,632,452 shares during the last quarter. Finally, Comgest Global Investors S.A.S. boosted its stake in Cognizant Technology Solutions by 9.1% in the fourth quarter. Comgest Global Investors S.A.S. now owns 8,096,614 shares of the information technology service provider’s stock valued at $513,972,000 after acquiring an additional 677,297 shares during the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on CTSH shares. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Goldman Sachs Group cut shares of Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $84.00 to $64.00 in a research note on Friday, May 3rd. Oppenheimer cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. TheStreet lowered shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd. Finally, Argus downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.55.
CTSH opened at $61.64 on Monday. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $83.35.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. On average, analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.
In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 1,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $62.85, for a total transaction of $94,275.00. Following the sale, the chief financial officer now directly owns 67,423 shares of the company’s stock, valued at approximately $4,237,535.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert Telesmanic sold 868 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $73.73, for a total transaction of $63,997.64. The disclosure for this sale can be found here. Insiders sold 24,104 shares of company stock valued at $1,526,535 over the last 90 days. 0.56% of the stock is currently owned by insiders.
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Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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