JPMorgan Chase & Co. raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,298,321 shares of the information technology service provider’s stock after purchasing an additional 149,358 shares during the quarter. JPMorgan Chase & Co. owned 2.62% of Cognizant Technology Solutions worth $868,114,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. D.A. Davidson & CO. bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at approximately $256,000. Canada Pension Plan Investment Board raised its holdings in shares of Cognizant Technology Solutions by 84.4% during the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after acquiring an additional 123,220 shares in the last quarter. Cetera Investment Advisers raised its holdings in Cognizant Technology Solutions by 9.4% in the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after purchasing an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Cognizant Technology Solutions in the first quarter worth $239,000. Finally, Brighton Jones LLC lifted its position in Cognizant Technology Solutions by 18.7% during the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after buying an additional 550 shares during the period. Institutional investors own 90.77% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have commented on CTSH shares. UBS Group started coverage on Cognizant Technology Solutions in a research report on Tuesday, November 7th. They set a “neutral” rating and a $70.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, August 11th. JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $66.00 to $74.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Finally, Redburn Atlantic assumed coverage on Cognizant Technology Solutions in a report on Thursday, November 16th. They set a “neutral” rating and a $68.00 price target for the company. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.94.
View Our Latest Analysis on Cognizant Technology Solutions
Cognizant Technology Solutions Price Performance
NASDAQ CTSH opened at $70.88 on Thursday. Cognizant Technology Solutions Co. has a one year low of $54.25 and a one year high of $72.71. The stock has a 50-day moving average of $67.20 and a 200 day moving average of $66.66. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.23 and a current ratio of 2.23.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Cognizant Technology Solutions had a return on equity of 17.54% and a net margin of 10.75%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same period last year, the company earned $1.17 EPS. Cognizant Technology Solutions’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.4 EPS for the current year.
Cognizant Technology Solutions Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.64%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.22%.
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. It operates through four segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media and Technology.
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