Flinton Capital Management LLC lessened its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,128 shares of the information technology service provider’s stock after selling 17,424 shares during the quarter. Flinton Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $19,043,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. lifted its holdings in shares of Cognizant Technology Solutions by 108.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Cognizant Technology Solutions by 101.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after purchasing an additional 813 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $121,000. Finally, Cerebellum GP LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $128,000. Institutional investors own 88.77% of the company’s stock.
A number of research firms have recently weighed in on CTSH. Vetr upgraded Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 target price on the stock in a report on Wednesday, November 29th. Loop Capital lifted their price target on Cognizant Technology Solutions to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Finally, Argus upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $81.80 to $100.00 in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.43.
Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $84.07 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.21. Cognizant Technology Solutions Corp has a 52-week low of $57.50 and a 52-week high of $84.95. The stock has a market capitalization of $49,813.80, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. equities analysts predict that Cognizant Technology Solutions Corp will post 4.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd were given a $0.20 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 31.62%.
Cognizant Technology Solutions 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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