OLD National Bancorp IN Purchases 1,074 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

OLD National Bancorp IN increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.7% during the fourth quarter, Holdings Channel reports. The firm owned 12,123 shares of the information technology service provider’s stock after buying an additional 1,074 shares during the quarter. OLD National Bancorp IN’s holdings in Cognizant Technology Solutions were worth $916,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $27,000. Valley National Advisers Inc. raised its holdings in shares of Cognizant Technology Solutions by 43.2% in 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 period. Bruce G. Allen Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $52,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Evercore ISI upped 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 research note on Tuesday, March 26th. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Societe Generale reiterated a “sell” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, Mizuho assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.44.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $67.77 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.55 and a beta of 1.06. The firm’s 50 day simple moving average is $74.13 and its 200 day simple moving average is $72.58. Cognizant Technology Solutions Co. has a 1 year low of $58.09 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Company 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.