Neuberger Berman Group LLC trimmed its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,845,191 shares of the information technology service provider’s stock after selling 209,621 shares during the quarter. Neuberger Berman Group LLC’s holdings in Cognizant Technology Solutions were worth $127,528,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the first quarter valued at approximately $25,000. Strategic Blueprint LLC purchased a new position in Cognizant Technology Solutions in the second quarter worth $29,000. Evoke Wealth LLC grew its holdings in Cognizant Technology Solutions by 98.6% in the first quarter. Evoke Wealth LLC now owns 554 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 275 shares during the last quarter. Quantbot Technologies LP purchased a new position in Cognizant Technology Solutions in the first quarter worth $49,000. Finally, Newfound Research LLC purchased a new position in Cognizant Technology Solutions in the second quarter worth $51,000. 89.04% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on CTSH shares. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 17th. Susquehanna cut their price target on shares of Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating on the stock in a report on Wednesday, June 30th. Societe Generale upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Thursday, July 29th. Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Thursday, July 29th. Finally, Susquehanna Bancshares lowered their price objective on shares of Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating for the company in a research note on Wednesday, June 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Buy” and an average price target of $83.13.
NASDAQ CTSH opened at $75.63 on Thursday. The company has a market capitalization of $39.75 billion, a PE ratio of 24.01, a P/E/G ratio of 1.71 and a beta of 1.15. The company has a fifty day moving average of $75.95 and a 200 day moving average of $74.26. Cognizant Technology Solutions Co. has a 1 year low of $66.19 and a 1 year high of $82.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.03 and a quick ratio of 2.03.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, July 27th. The information technology service provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.45 billion. Cognizant Technology Solutions had a net margin of 9.65% and a return on equity of 17.41%. Research analysts expect that Cognizant Technology Solutions Co. will post 4.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 20th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.07%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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