Mount Yale Investment Advisors LLC Increases Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)
Mount Yale Investment Advisors LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Rating) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,108 shares of the information technology service provider's stock after buying an additional 4,709 shares during the period. Cognizant Technology Solutions comprises approximately 0.7% of Mount Yale Investment Advisors LLC's investment portfolio, making the stock its 19th biggest position. Mount Yale Investment Advisors LLC's holdings in Cognizant Technology Solutions were worth $5,635,000 at the end of the most recent quarter.
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Several other large investors have also modified their holdings of CTSH. Dark Forest Capital Management LP purchased a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $26,000. Prospera Financial Services Inc boosted its holdings in shares of Cognizant Technology Solutions by 77.0% in the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider's stock valued at $27,000 after purchasing an additional 171 shares during the period. Ronald Blue Trust Inc. purchased a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $49,000. Hexagon Capital Partners LLC boosted its holdings in shares of Cognizant Technology Solutions by 492.9% in the third quarter. Hexagon Capital Partners LLC now owns 587 shares of the information technology service provider's stock valued at $34,000 after purchasing an additional 488 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Cognizant Technology Solutions by 29.9% in the first quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider's stock valued at $58,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 90.12% of the company's stock.
Analyst Upgrades and Downgrades
CTSH has been the subject of a number of research reports. Wedbush lowered their price target on Cognizant Technology Solutions from $95.00 to $72.00 in a report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Cognizant Technology Solutions from $65.00 to $54.00 in a research note on Thursday, November 3rd. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $65.00 to $71.00 and gave the stock a "market perform" rating in a research note on Friday, January 13th. Moffett Nathanson downgraded shares of Cognizant Technology Solutions from a "market perform" rating to an "underperform" rating and reduced their price objective for the stock from $70.00 to $60.00 in a research note on Thursday, January 19th. Finally, Bank of America downgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "underperform" rating and set a $57.00 price objective for the company. in a research note on Monday, January 9th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $69.20.
Cognizant Technology Solutions Stock Performance
Shares of NASDAQ CTSH traded down $0.19 during mid-day trading on Friday, hitting $64.47. The stock had a trading volume of 648,703 shares, compared to its average volume of 5,033,361. The firm has a market cap of $33.13 billion, a PE ratio of 14.36, a PEG ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.27 and a current ratio of 2.27. The company has a 50 day moving average of $59.65 and a two-hundred day moving average of $61.80. Cognizant Technology Solutions Co. has a twelve month low of $51.33 and a twelve month high of $93.47.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Rating) last issued its earnings results on Wednesday, November 2nd. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.17. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $5.01 billion. Cognizant Technology Solutions had a return on equity of 19.55% and a net margin of 12.11%. Research analysts predict that Cognizant Technology Solutions Co. will post 4.41 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Friday, November 18th were paid a $0.27 dividend. The ex-dividend date was Thursday, November 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.68%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 24.00%.
Insider Buying and Selling
In related news, Director Leo S. Jr. Mackay sold 3,300 shares of the firm's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the completion of the transaction, the director now owns 28,310 shares in the company, valued at approximately $1,494,484.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.
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; Healthcare; Products and Resources; and Communications, Media and Technology.
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