MERIAN GLOBAL INVESTORS UK Ltd raised its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 148.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,237 shares of the information technology service provider’s stock after purchasing an additional 9,111 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Cognizant Technology Solutions were worth $1,103,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CTSH. Acima Private Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $29,000. Sontag Advisory LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $30,000. Somerset Trust Co grew its position in shares of Cognizant Technology Solutions by 152.0% in the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 298 shares during the last quarter. Citizens Financial Group Inc RI grew its position in shares of Cognizant Technology Solutions by 176.5% in the 4th quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock valued at $39,000 after buying an additional 390 shares during the last quarter. Finally, Pinnacle Bank purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $42,000. Institutional investors own 89.27% of the company’s stock.
A number of research analysts recently commented on the stock. Daiwa Capital Markets downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Oppenheimer downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Nomura cut shares of Cognizant Technology Solutions to a “hold” rating in a research note on Friday, May 3rd. Finally, BidaskClub cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $75.55.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. On average, analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were given a $0.20 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.
In related news, CEO Brian Humphries bought 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $61.09 per share, with a total value of $1,160,710.00. Following the completion of the transaction, the chief executive officer now owns 19,000 shares of the company’s stock, valued at $1,160,710. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allen Shaheen sold 1,369 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $60.16, for a total transaction of $82,359.04. Following the transaction, the executive vice president now directly owns 3,073 shares in the company, valued at $184,871.68. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock worth $3,180,696 over the last three months. Corporate insiders own 0.56% of the company’s stock.
About Cognizant Technology Solutions
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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