First National Bank of Omaha reduced its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 92.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,000 shares of the information technology service provider’s stock after selling 115,369 shares during the quarter. First National Bank of Omaha’s holdings in Cognizant Technology Solutions were worth $485,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kistler Tiffany Companies LLC lifted its holdings in Cognizant Technology Solutions by 133.5% in the 4th quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 367 shares during the last quarter. Willingdon Wealth Management purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $120,000. Johnson Financial Group Inc. lifted its stake in Cognizant Technology Solutions by 2,434.4% during the third quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock valued at $125,000 after buying an additional 1,558 shares in the last quarter. Alpha Windward LLC lifted its stake in Cognizant Technology Solutions by 13.9% during the fourth quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock valued at $133,000 after buying an additional 256 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $134,000. Institutional investors own 86.73% of the company’s stock.
CTSH has been the subject of a number of analyst reports. Goldman Sachs Group raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a research note on Monday, November 26th. KeyCorp increased their price target on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, February 7th. Loop Capital set a $94.00 price target on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Monday, November 19th. BMO Capital Markets upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 6th. Finally, Zacks Investment Research upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $82.29.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. As a group, sell-side analysts predict that Cognizant Technology Solutions Corp will post 4.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 21st will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. Cognizant Technology Solutions’s payout ratio is 19.90%.
In other news, General Counsel Matthew W. Friedrich sold 449 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $68.30, for a total transaction of $30,666.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allen Shaheen sold 1,232 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $71.51, for a total value of $88,100.32. Following the transaction, the executive vice president now owns 6,120 shares in the company, valued at approximately $437,641.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,009 shares of company stock valued at $1,529,699. Corporate insiders own 0.60% of the company’s stock.
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Cognizant Technology Solutions Company Profile
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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