Bank of New Hampshire Has $307,000 Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bank of New Hampshire lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 77.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,013 shares of the information technology service provider's stock after selling 13,923 shares during the period. Bank of New Hampshire's holdings in Cognizant Technology Solutions were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $28,000. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Spire Wealth Management increased its stake in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Up 1.2%

Shares of Cognizant Technology Solutions stock opened at $80.28 on Monday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The stock has a market cap of $39.57 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $75.64 and its 200-day moving average is $79.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The company had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $88.00 to $98.00 in a research report on Monday, May 19th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Morgan Stanley decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Finally, Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $85.00.

Cognizant Technology Solutions Company 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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