LPL Financial LLC increased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 31.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,456 shares of the information technology service provider’s stock after purchasing an additional 16,218 shares during the quarter. LPL Financial LLC’s holdings in Cognizant Technology Solutions were worth $5,511,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CTSH. Virtu Financial LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth $751,000. Ontario Teachers Pension Plan Board lifted its stake in Cognizant Technology Solutions by 153.5% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 49,117 shares of the information technology service provider’s stock worth $3,488,000 after purchasing an additional 29,742 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Cognizant Technology Solutions by 8.8% during the fourth quarter. Suntrust Banks Inc. now owns 51,729 shares of the information technology service provider’s stock worth $3,672,000 after purchasing an additional 4,194 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Cognizant Technology Solutions by 12.6% during the fourth quarter. OppenheimerFunds Inc. now owns 31,579 shares of the information technology service provider’s stock worth $2,243,000 after purchasing an additional 3,541 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in Cognizant Technology Solutions by 22.1% during the fourth quarter. Eaton Vance Management now owns 551,904 shares of the information technology service provider’s stock worth $39,196,000 after purchasing an additional 100,017 shares during the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.
Several brokerages recently issued reports on CTSH. BidaskClub upgraded Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, May 1st. ValuEngine raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Sanford C. Bernstein initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, March 28th. They issued a “market perform” rating and a $57.50 target price on the stock. Finally, Morgan Stanley dropped their target price on Cognizant Technology Solutions to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $86.09.
Shares of Cognizant Technology Solutions opened at $78.70 on Monday, according to MarketBeat.com. The firm has a market cap of $46.11 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a one year low of $65.60 and a one year high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.90 billion. Cognizant Technology Solutions had a return on equity of 20.48% and a net margin of 9.67%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 4.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Tuesday, May 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 22.66%.
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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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