Delta Financial Advisors LLC Trims Stock Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)
Delta Financial Advisors LLC decreased its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,532 shares of the information technology service provider’s stock after selling 1,584 shares during the quarter. Delta Financial Advisors LLC’s holdings in Cognizant Technology Solutions were worth $3,134,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Simon Quick Advisors LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $37,000. S.A. Mason LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $48,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $70,000. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $81,000. Finally, Cascade Investment Advisors Inc. lifted its stake in shares of Cognizant Technology Solutions by 100.0% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 1,400 shares of the information technology service provider’s stock valued at $84,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.
In other news, General Counsel Matthew W. Friedrich sold 9,890 shares of Cognizant Technology Solutions stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $61.19, for a total value of $605,169.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Francisco Dsouza sold 62,178 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.62, for a total value of $3,955,764.36. Following the completion of the transaction, the director now owns 526,227 shares in the company, valued at $33,478,561.74. The disclosure for this sale can be found here. Insiders sold a total of 313,189 shares of company stock worth $19,422,499 over the last quarter. Company insiders own 0.56% of the company’s stock.
CTSH opened at $69.04 on Friday. The stock’s fifty day moving average is $63.20 and its two-hundred day moving average is $62.36. The company has a market capitalization of $38.02 billion, a P/E ratio of 20.98, a PEG ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $74.85. The company has a quick ratio of 2.53, a current ratio of 2.55 and a debt-to-equity ratio of 0.13.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.23 billion. Cognizant Technology Solutions had a return on equity of 20.60% and a net margin of 10.98%. Cognizant Technology Solutions’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. Equities analysts anticipate that Cognizant Technology Solutions Corp will post 4.09 earnings per share for the current year.
Cognizant Technology Solutions declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 20.05%.
Cognizant Technology Solutions 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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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