Andina Capital Management LLC Has $434,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

29 Oct 2024, 17:14 by Tristan Rich · The Markets Daily

Andina Capital Management LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,622 shares of the information technology service provider’s stock after acquiring an additional 223 shares during the period. Andina Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions in the first quarter worth approximately $28,000. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares during the last quarter. Finally, Eastern Bank acquired a new position in Cognizant Technology Solutions during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CTSH shares. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Barclays increased their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.58.

Get Our Latest Research Report on Cognizant Technology Solutions

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $0.80 during midday trading on Tuesday, hitting $75.78. The stock had a trading volume of 759,654 shares, compared to its average volume of 3,802,095. The firm has a market capitalization of $37.68 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 2.16 and a beta of 1.05. The stock has a 50-day simple moving average of $76.48 and a 200 day simple moving average of $71.86. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.