Ossiam Purchases 922 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Ossiam lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,191 shares of the information technology service provider’s stock after buying an additional 922 shares during the period. Ossiam’s holdings in Cognizant Technology Solutions were worth $1,601,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $26,000. Spire Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $46,000. Finally, Bruce G. Allen Investments LLC bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $52,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $67.25 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a fifty-two week low of $61.23 and a fifty-two week high of $80.09. The stock has a 50 day moving average price of $67.92 and a two-hundred day moving average price of $72.74. The company has a market capitalization of $33.44 billion, a P/E ratio of 16.17, a PEG ratio of 1.97 and a beta of 1.04.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 earnings per share. Analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTSH shares. Evercore ISI upped their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Susquehanna lowered their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets dropped their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $75.67.

Read Our Latest Research Report 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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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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