Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by VeraBank N.A.

VeraBank N.A. grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,490 shares of the information technology service provider’s stock after purchasing an additional 196 shares during the period. VeraBank N.A.’s holdings in Cognizant Technology Solutions were worth $490,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Cognizant Technology Solutions by 32.8% during the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after buying an additional 4,365,493 shares in the last quarter. Boston Partners lifted its stake in Cognizant Technology Solutions by 3.0% during the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after purchasing an additional 231,782 shares during the last quarter. Northern Trust Corp lifted its stake in Cognizant Technology Solutions by 5.0% during the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after purchasing an additional 294,415 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cognizant Technology Solutions by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock worth $206,066,000 after purchasing an additional 28,455 shares during the period. Finally, Stifel Financial Corp increased its stake in Cognizant Technology Solutions by 3.6% during the third quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock valued at $113,804,000 after purchasing an additional 58,422 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $0.02 during midday trading on Friday, reaching $66.25. 7,399,746 shares of the company were exchanged, compared to its average volume of 3,943,487. The company’s 50 day moving average price is $72.31 and its two-hundred day moving average price is $72.46. The company has a market cap of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions Co. has a 12 month low of $60.26 and a 12 month high of $80.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. BMO Capital Markets decreased their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Guggenheim initiated coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price for the company. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.67.

Insider Buying and Selling

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by corporate 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, Health Sciences, Products and Resources, and Communications, Media and Technology.