Epoch Investment Partners Inc. Sells 220,145 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)
Epoch Investment Partners Inc. lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 98.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,431 shares of the information technology service provider’s stock after selling 220,145 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Cognizant Technology Solutions were worth $289,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Cognizant Technology Solutions by 97,310.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,012,223 shares of the information technology service provider’s stock valued at $718,878,000 after acquiring an additional 11,000,918 shares in the last quarter. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $374,413,000. JPMorgan Chase & Co. raised its holdings in shares of Cognizant Technology Solutions by 84.6% during the first quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock valued at $801,166,000 after acquiring an additional 6,027,057 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Cognizant Technology Solutions by 211.3% during the first quarter. Toronto Dominion Bank now owns 6,172,703 shares of the information technology service provider’s stock valued at $375,901,000 after acquiring an additional 4,189,677 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Cognizant Technology Solutions by 43.7% during the first quarter. Wellington Management Group LLP now owns 9,917,510 shares of the information technology service provider’s stock valued at $604,274,000 after acquiring an additional 3,017,452 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.
Cognizant Technology Solutions Trading Up 0.6 %
NASDAQ CTSH opened at $70.82 on Friday. Cognizant Technology Solutions Co. has a 12 month low of $54.25 and a 12 month high of $72.71. The stock has a market cap of $35.51 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.83 and a beta of 1.08. The stock’s fifty day moving average price is $67.31 and its 200-day moving average price is $67.09. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Cognizant Technology Solutions had a return on equity of 17.54% and a net margin of 10.75%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.4 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 21st were given a dividend of $0.29 per share. The ex-dividend date was Monday, November 20th. This represents a $1.16 annualized dividend and a dividend yield of 1.64%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.22%.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. StockNews.com assumed coverage on Cognizant Technology Solutions in a report on Thursday, October 5th. They set a “buy” rating for the company. Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Cognizant Technology Solutions in a report on Friday, August 11th. BMO Capital Markets decreased their price objective on Cognizant Technology Solutions from $78.00 to $73.00 and set a “market perform” rating for the company in a report on Friday, November 3rd. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $80.00 in a report on Friday, October 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.94.
View Our Latest Stock Report on CTSH
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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