PNC Financial Services Group Inc. decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,101 shares of the information technology service provider's stock after selling 8,340 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Cognizant Technology Solutions were worth $8,499,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of CTSH. CoreCap Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after purchasing an additional 126 shares during the last quarter. Connecticut Wealth Management LLC grew its holdings in Cognizant Technology Solutions by 0.8% during the fourth quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider's stock worth $1,357,000 after buying an additional 138 shares in the last quarter. Covestor Ltd raised its position in Cognizant Technology Solutions by 3.3% in the 4th quarter. Covestor Ltd now owns 4,389 shares of the information technology service provider's stock valued at $338,000 after buying an additional 139 shares during the last quarter. Conning Inc. lifted its stake in Cognizant Technology Solutions by 4.4% during the 1st quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock valued at $271,000 after acquiring an additional 149 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Cognizant Technology Solutions by 1.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after acquiring an additional 149 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock traded up $0.59 during mid-day trading on Friday, hitting $69.71. 240,203 shares of the company traded hands, compared to its average volume of 3,822,795. The stock has a fifty day moving average price of $77.14 and a 200-day moving average price of $78.40. The stock has a market cap of $34.36 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The firm's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.
Cognizant Technology Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is 25.20%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their target price for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. TD Securities increased their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Barclays dropped their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $86.56.
View Our Latest Stock Analysis on Cognizant Technology Solutions
Cognizant Technology Solutions Company Profile
(
Free Report)
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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