New England Research & Management Inc. Invests $852,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

New England Research & Management Inc. purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 11,626 shares of the information technology service provider’s stock, valued at approximately $852,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 193 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $40,000. Quarry LP acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $43,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $68.00 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $33.81 billion, a PE ratio of 16.35, a PEG ratio of 2.03 and a beta of 1.04. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.09. The business’s 50 day moving average is $67.13 and its 200-day moving average is $72.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. Cognizant Technology Solutions’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTSH. Evercore ISI increased their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Citigroup lowered their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Susquehanna lowered their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.44.

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.