Cognizant Technology Solutions (NASDAQ:CTSH) Hits New 1-Year Low at $65.82

Posted by on Jun 16th, 2022

Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating)’s share price reached a new 52-week low on Thursday . The company traded as low as $65.82 and last traded at $66.09, with a volume of 15151 shares. The stock had previously closed at $68.49.

A number of research firms recently weighed in on CTSH. Cowen decreased their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 11th. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. Finally, Cowen dropped their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $92.53.

The firm’s fifty day moving average price is $77.43 and its 200 day moving average price is $83.50. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05. The stock has a market cap of $34.29 billion, a PE ratio of 16.42, a P/E/G ratio of 1.29 and a beta of 1.10.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Friday, May 20th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 25.90%.

In related news, EVP Andrew J. Stafford sold 5,867 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the sale, the executive vice president now owns 5,872 shares in the company, valued at $453,553.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Patsalos-Fox sold 5,687 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the sale, the director now owns 57,534 shares in the company, valued at approximately $4,280,529.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CTSH. Penserra Capital Management LLC increased its position in Cognizant Technology Solutions by 10.9% during the third quarter. Penserra Capital Management LLC now owns 1,913 shares of the information technology service provider’s stock valued at $141,000 after acquiring an additional 188 shares during the last quarter. MML Investors Services LLC increased its position in Cognizant Technology Solutions by 53.9% during the third quarter. MML Investors Services LLC now owns 6,464 shares of the information technology service provider’s stock valued at $480,000 after acquiring an additional 2,264 shares during the last quarter. LPL Financial LLC increased its position in Cognizant Technology Solutions by 11.5% during the third quarter. LPL Financial LLC now owns 74,580 shares of the information technology service provider’s stock valued at $5,535,000 after acquiring an additional 7,692 shares during the last quarter. Wellington Management Group LLP increased its position in Cognizant Technology Solutions by 3.2% during the third quarter. Wellington Management Group LLP now owns 7,928,602 shares of the information technology service provider’s stock valued at $588,382,000 after acquiring an additional 247,776 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its position in Cognizant Technology Solutions by 2.1% during the third quarter. United Capital Financial Advisers LLC now owns 652,150 shares of the information technology service provider’s stock valued at $48,396,000 after acquiring an additional 13,625 shares during the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.

Cognizant Technology Solutions Company Profile (NASDAQ:CTSH)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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