OPSEU Pension Plan Trust Fund increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,615 shares of the information technology service provider’s stock after acquiring an additional 1,236 shares during the period. Cognizant Technology Solutions comprises about 0.9% of OPSEU Pension Plan Trust Fund’s portfolio, making the stock its 8th biggest position. OPSEU Pension Plan Trust Fund’s holdings in Cognizant Technology Solutions were worth $2,966,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Kore Private Wealth LLC lifted its holdings in Cognizant Technology Solutions by 144.8% during the 2nd quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock worth $26,000 after buying an additional 281 shares during the period. NEXT Financial Group Inc acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $40,000. Northwest Investment Counselors LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $42,000. Independence Bank of Kentucky increased its position in Cognizant Technology Solutions by 55.6% in the 3rd quarter. Independence Bank of Kentucky now owns 630 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 225 shares in the last quarter. Finally, Ovata Capital Management Ltd bought a new stake in Cognizant Technology Solutions in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 89.68% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $67.00 target price for the company in a research report on Wednesday, July 29th. 140166 raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and set a $87.00 target price for the company in a research report on Tuesday, October 13th. Morgan Stanley boosted their target price on Cognizant Technology Solutions from $69.00 to $73.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their price objective on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $71.00.
In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 723 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $73.54, for a total transaction of $53,169.42. Following the sale, the senior vice president now owns 9,786 shares in the company, valued at $719,662.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dharmendra Kumar Sinha sold 25,000 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $68.33, for a total value of $1,708,250.00. Following the sale, the insider now owns 42,440 shares in the company, valued at approximately $2,899,925.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,085 shares of company stock worth $4,174,655. Company insiders own 0.31% of the company’s stock.
Cognizant Technology Solutions stock traded down $1.08 during trading on Tuesday, hitting $76.72. The stock had a trading volume of 26,019 shares, compared to its average volume of 3,689,656. Cognizant Technology Solutions Co. has a 1 year low of $40.01 and a 1 year high of $78.47. The company has a quick ratio of 2.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $72.71 and its two-hundred day moving average is $63.59. The stock has a market cap of $42.19 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 28th. The information technology service provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Cognizant Technology Solutions had a return on equity of 19.04% and a net margin of 8.78%. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 3.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.15%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.06%.
Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
Further Reading: Float
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