Sanders Morris Harris LLC purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 6,000 shares of the information technology service provider’s stock, valued at approximately $393,000.
A number of other large investors have also recently bought and sold shares of CTSH. D.A. Davidson & CO. acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth about $256,000. Canada Pension Plan Investment Board grew its holdings in Cognizant Technology Solutions by 84.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after acquiring an additional 123,220 shares during the period. Cetera Investment Advisers grew its holdings in Cognizant Technology Solutions by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after acquiring an additional 1,523 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at about $239,000. Finally, Brighton Jones LLC grew its stake in shares of Cognizant Technology Solutions by 18.7% in the 1st 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. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock opened at $70.17 on Friday. Cognizant Technology Solutions Co. has a 52 week low of $51.33 and a 52 week high of $72.71. The company’s 50 day moving average price is $69.35 and its two-hundred day moving average price is $64.31. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05. The stock has a market cap of $35.44 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.83 and a beta of 1.09.
Cognizant Technology Solutions Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Monday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.65%. Cognizant Technology Solutions’s payout ratio is currently 27.04%.
Analyst Upgrades and Downgrades
CTSH has been the subject of several research reports. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $66.00 to $74.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. BMO Capital Markets raised their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. StockNews.com initiated coverage on Cognizant Technology Solutions in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Barclays raised their target price on Cognizant Technology Solutions from $53.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, July 25th. Finally, Citigroup raised their target price on Cognizant Technology Solutions from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.75.
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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