Marshall & Sullivan Inc. WA lowered its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 52,118 shares of the information technology service provider’s stock after selling 713 shares during the quarter. Cognizant Technology Solutions accounts for 3.0% of Marshall & Sullivan Inc. WA’s holdings, making the stock its 12th biggest holding. Marshall & Sullivan Inc. WA’s holdings in Cognizant Technology Solutions were worth $3,701,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $107,000. Shine Investment Advisory Services Inc. raised its position in shares of Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after acquiring an additional 788 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $121,000. Cerebellum GP LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $128,000. Finally, BB&T Investment Services Inc. raised its position in shares of Cognizant Technology Solutions by 86.8% in the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after acquiring an additional 1,011 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CTSH. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Tuesday, February 13th. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Credit Suisse Group set a $100.00 price target on Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Friday, February 9th. Loop Capital upped their price target on Cognizant Technology Solutions to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Bank of America upped their price target on Cognizant Technology Solutions from $86.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.32.
Shares of Cognizant Technology Solutions Corp (CTSH) opened at $80.95 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 52 week low of $57.00 and a 52 week high of $81.87. The company has a market capitalization of $47,598.60, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business posted $0.87 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.99%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 23.72%.
In other news, VP Malcolm Frank sold 9,462 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total transaction of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares of the company’s stock, valued at approximately $1,096,785.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,296 shares of company stock worth $82,190,888. Company insiders own 1.08% of the company’s stock.
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About Cognizant Technology Solutions
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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