Banque Pictet & Cie SA lessened its holdings in Cognizant (NASDAQ:CTSH) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 418,954 shares of the information technology service provider’s stock after selling 4,352 shares during the quarter. Banque Pictet & Cie SA owned 0.07% of Cognizant worth $33,726,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Shine Investment Advisory Services Inc. boosted its holdings in shares of Cognizant by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Cognizant in the 4th quarter valued at $107,000. Clearbridge Investments LLC boosted its holdings in shares of Cognizant by 101.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after purchasing an additional 813 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Cognizant in the 4th quarter valued at $128,000. Finally, Bray Capital Advisors acquired a new stake in shares of Cognizant in the 1st quarter valued at $161,000. 88.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Sumithra Gomatam sold 1,060 shares of Cognizant stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $80.50, for a total value of $85,330.00. Following the completion of the transaction, the insider now directly owns 8,189 shares of the company’s stock, valued at approximately $659,214.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Debashis Chatterjee sold 1,650 shares of Cognizant stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $83.00, for a total value of $136,950.00. Following the completion of the transaction, the insider now directly owns 37,603 shares of the company’s stock, valued at $3,121,049. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,684 shares of company stock valued at $3,700,068. 0.60% of the stock is owned by corporate insiders.
Cognizant (NASDAQ:CTSH) last announced its earnings results on Monday, May 7th. The information technology service provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.90 billion. Cognizant had a return on equity of 20.48% and a net margin of 9.67%. Cognizant’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. analysts expect that Cognizant will post 4.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.06%. The ex-dividend date is Monday, May 21st. Cognizant’s dividend payout ratio is currently 22.66%.
CTSH has been the topic of a number of research analyst reports. ValuEngine raised Cognizant from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub downgraded Cognizant from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research raised Cognizant from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, May 1st. Morgan Stanley raised their price objective on Cognizant from $77.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Finally, Cowen reissued a “buy” rating and set a $90.00 price objective on shares of Cognizant in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Cognizant presently has an average rating of “Buy” and a consensus price target of $84.30.
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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