Reinhart Partners Inc. reduced its position in Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating ) by 6.6% during the third quarter, according to the company’s most recent Form 13F filing with the SEC. The fund owns 237,769 shares of the information technology services provider after selling 16,739 shares during the quarter. Reinhart Partners Inc.’s stake in Cognizant Technology Solutions was valued at $13,657,000 as of its most recent SEC filing.
Many other institutional investors and hedge funds have also recently revised their holdings of CTSH. Dark Forest Capital Management LP bought a new position in Cognizant Technology Solutions stock in the second quarter, worth about $26,000. Prospera Financial Services Inc boosted its stake in Cognizant Technology Solutions by 77.0% in the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology services provider, worth $27,000, after buying an additional 171 shares during that period. Hexagon Capital Partners LLC increased its stake in Cognizant Technology Solutions by 492.9% in the third quarter. Hexagon Capital Partners LLC now owns 587 shares of the information technology services provider, worth $34,000, after buying an additional 488 shares during that period. Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 32.4% in the second quarter. After purchasing an additional 156 shares during that period, Valley National Advisers Inc. now owns 637 shares of the information technology services provider, worth $43,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Cognizant Technology Solutions by 263.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 781 shares of the information technology services provider, worth $45,000, after buying an additional 566 shares during the period. 90.12% of the shares are held by institutional investors.
Wall Street analysts forecast growth
Several analysts have commented on CTSH stock. Societe Generale downgraded shares of Cognizant Technology Solutions from “buy” to “hold” and set a $70.00 price target on the stock. in a report on Thursday, November 3rd. Wedbush cut their price objective on shares of Cognizant Technology Solutions from $95.00 to $72.00 in a report on Thursday, November 3rd. Barclays cut their price target on Cognizant Technology Solutions from $55.00 to $45.00 and set an “underweight” rating on the company in a report on Sunday, November 6th. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $65.00 to $60.00 and set an “equal weight” rating on the company in a research note on Thursday, November 3rd. Finally, Citigroup cut their price target on Cognizant Technology Solutions from $77.00 to $62.00 and set a “neutral” rating on the company in a research note on Thursday, November 3rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.84.
insiders place bets
In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of Cognizant Technology Solutions stock in a trade that occurred on Monday, November 7th. These shares sold for an average of $52.79, for a total value of $174,207.00. Following the completion of the sale, the directors now own 28,310 shares of the company, valued at approximately $1,494,484.90. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. 0.34% of shares are currently held by insiders.
Cognizant Technology Solutions shares fell 0.9%
CTSH shares fell 58 cents to $64.52 on Friday. The stock’s volume was 108,163 shares, compared with its average volume of 5,399,582 shares. The company’s market capitalization is $33.16 billion, with a P/E ratio of 14.47, a P/E ratio of 1.16, and a beta coefficient of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.27, and a current ratio of 2.27. The business has a 50-day simple moving average of $58.31 and a 200-day simple moving average of $62.12. Cognizant Technology Solutions Co. had a one-year low of $51.33 and a one-year high of $93.47.
Cognizant Technology Solutions (NASDAQ: CTSH – Rated ) last reported its earnings results on Wednesday, November 2nd. The information technology services provider reported earnings per share of $1.17 for the quarter, meeting analysts’ consensus estimate of $1.17. Cognizant Technology Solutions had a net profit margin of 12.11% and a return on equity of 19.55%. The business reported revenue of $4.86 billion for the quarter, compared with the consensus estimate of $5.01 billion. As a group, equity analysts expect Cognizant Technology Solutions Co. to post earnings per share of 4.46 for the fiscal year.
Cognizant Technology Solutions Announces Dividend
The company also recently declared a quarterly dividend, which is paid on Tuesday, November 29. Shareholders of record on Friday, November 18 received a $0.27 dividend. This translates to an annualized dividend of $1.08 and a yield of 1.67%. The ex-dividend date for this dividend is Thursday, November 17. Cognizant Technology Solutions’ dividend payout ratio (DPR) currently stands at 24.00%.
Cognizant Technology Solutions Brief
(get rating)
Cognizant Technology Solutions Corporation is a professional services company that provides consulting and technology and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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