Nicolet Bankshares Inc. maintained its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,055 shares of the information technology service provider’s stock at the end of the second quarter. Nicolet Bankshares Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $269,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in shares of Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock worth $379,000 after buying an additional 770 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock worth $1,219,000 after buying an additional 19,218 shares in the last quarter. Regentatlantic Capital LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 7.9% in the first quarter. Regentatlantic Capital LLC now owns 11,718 shares of the information technology service provider’s stock worth $697,000 after buying an additional 861 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 7.0% in the first quarter. Profund Advisors LLC now owns 49,066 shares of the information technology service provider’s stock worth $2,920,000 after buying an additional 3,223 shares in the last quarter. Finally, Davis R M Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 2.2% in the first quarter. Davis R M Inc. now owns 271,020 shares of the information technology service provider’s stock worth $16,131,000 after buying an additional 5,751 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.
Cognizant Technology Solutions Corporation (CTSH) opened at 69.95 on Friday. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $70.49. The stock has a 50 day moving average price of $67.94 and a 200-day moving average price of $62.02. The stock has a market cap of $41.20 billion, a P/E ratio of 25.45 and a beta of 1.17.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 21.90%.
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CTSH has been the topic of a number of research analyst reports. SunTrust Banks, Inc. raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Thursday, April 13th. Morgan Stanley raised their target price on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Needham & Company LLC raised their target price on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 15th. Vetr raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price on the stock in a report on Friday, April 14th. Finally, Robert W. Baird raised their price objective on Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $66.10.
In related news, insider Debashis Chatterjee sold 3,452 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total transaction of $239,914.00. Following the sale, the insider now directly owns 42,628 shares of the company’s stock, valued at $2,962,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen Shaheen sold 4,186 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total transaction of $282,806.16. Following the sale, the executive vice president now directly owns 442 shares in the company, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold 63,783 shares of company stock worth $4,222,615 over the last three months. 1.08% of the stock is currently owned by insiders.
Cognizant Technology Solutions Corporation Company Profile
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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