Inceptionr LLC acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,328 shares of the information technology service provider's stock, valued at approximately $1,409,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Addison Advisors LLC raised its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after buying an additional 189 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $30,000. Trust Co. of Vermont lifted its stake in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after purchasing an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $36,000. 92.44% of the stock is owned by hedge funds and other institutional investors.
Cognizant Technology Solutions Trading Up 0.9 %
CTSH stock traded up $0.77 during trading on Monday, reaching $84.00. The company had a trading volume of 9,938,424 shares, compared to its average volume of 3,762,991. The business has a 50 day moving average of $81.98 and a 200 day moving average of $79.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $41.55 billion, a P/E ratio of 18.63, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.48%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's payout ratio is 27.49%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $83.67.
Check Out Our Latest Stock Report on Cognizant Technology Solutions
Cognizant Technology Solutions Company Profile
(
Free Report)
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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