Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down 1.7% during mid-day trading on Friday . The stock traded as low as $61.02 and last traded at $61.25. 1,815,295 shares changed hands during trading, a decline of 70% from the average session volume of 6,113,191 shares. The stock had previously closed at $62.34.
CTSH has been the subject of a number of analyst reports. Wells Fargo & Co downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $82.00 to $75.00 in a research report on Tuesday, April 16th. BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wedbush lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $70.00 in a report on Friday, May 3rd. ValuEngine lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Morgan Stanley set a $64.00 target price on shares of Cognizant Technology Solutions and gave the stock a “sell” rating in a research report on Friday, May 3rd. Four investment 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. Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $75.55.
The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a market capitalization of $35.38 billion, a P/E ratio of 15.23, a PEG ratio of 1.57 and a beta of 1.05.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.
In other news, CEO Brian Humphries acquired 19,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $61.09 per share, with a total value of $1,160,710.00. Following the completion of the purchase, the chief executive officer now owns 19,000 shares of the company’s stock, valued at $1,160,710. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total transaction of $148,000.00. Following the sale, the chief operating officer now directly owns 38,992 shares in the company, valued at $2,885,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,104 shares of company stock worth $1,526,535. Corporate insiders own 0.56% of the company’s stock.
Large investors have recently modified their holdings of the business. Premia Global Advisors LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at $31,000. Acima Private Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $30,000. Somerset Trust Co boosted its position in Cognizant Technology Solutions by 152.0% during the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after buying an additional 298 shares during the period. Finally, Resources Investment Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 125.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 280 shares during the period. 89.27% of the stock is owned by hedge funds and other institutional investors.
Cognizant Technology Solutions Company Profile (NASDAQ:CTSH)
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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