EULAV Asset Management cut its holdings in shares of Cognizant (NASDAQ:CTSH) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,000 shares of the information technology service provider’s stock after selling 2,000 shares during the quarter. EULAV Asset Management’s holdings in Cognizant were worth $2,737,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CTSH. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Cognizant during the 4th quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. boosted its position in Cognizant by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after acquiring an additional 788 shares during the period. Clearbridge Investments LLC boosted its position in Cognizant by 101.2% during the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock worth $115,000 after acquiring an additional 813 shares during the period. Cerebellum GP LLC acquired a new position in Cognizant during the 4th quarter worth $128,000. Finally, Bray Capital Advisors acquired a new position in Cognizant during the 1st quarter worth $161,000. Institutional investors own 88.74% of the company’s stock.
In other Cognizant news, CFO Karen Mcloughlin sold 1,791 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $83.76, for a total value of $150,014.16. Following the transaction, the chief financial officer now directly owns 42,718 shares in the company, valued at approximately $3,578,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,519 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $84.62, for a total value of $128,537.78. Following the completion of the transaction, the insider now owns 10,584 shares in the company, valued at $895,618.08. The disclosure for this sale can be found here. Insiders sold a total of 44,684 shares of company stock worth $3,700,068 over the last quarter. Corporate insiders own 0.60% of the company’s stock.
Shares of Cognizant opened at $75.78 on Friday, according to MarketBeat.com. The firm has a market capitalization of $44.17 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.64 and a current ratio of 3.64. Cognizant has a 52 week low of $75.39 and a 52 week high of $75.87.
Cognizant (NASDAQ:CTSH) last announced its quarterly earnings data on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. The firm had revenue of $3.91 billion for 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%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. analysts forecast that Cognizant will post 4.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 22nd will be given a $0.20 dividend. The ex-dividend date is Monday, May 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. Cognizant’s payout ratio is 22.66%.
Several analysts have recently weighed in on the company. ValuEngine upgraded Cognizant from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub lowered Cognizant from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research raised Cognizant from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Tuesday, May 1st. Morgan Stanley upped their price target on Cognizant from $77.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Finally, Cowen reissued a “buy” rating and set a $90.00 price target on shares of Cognizant in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average 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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