Riverview Trust Co Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Riverview Trust Co purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the first quarter, HoldingsChannel.com reports. The fund purchased 966 shares of the information technology service provider’s stock, valued at approximately $71,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Unison Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 0.6% during the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after acquiring an additional 172 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 17.2% in the 1st quarter. Ballentine Partners LLC now owns 4,720 shares of the information technology service provider’s stock worth $346,000 after purchasing an additional 691 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of Cognizant Technology Solutions by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 41,865 shares of the information technology service provider’s stock worth $3,068,000 after purchasing an additional 239 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Cognizant Technology Solutions by 5.9% in the 1st quarter. Park Avenue Securities LLC now owns 33,088 shares of the information technology service provider’s stock worth $2,425,000 after purchasing an additional 1,833 shares during the period. Finally, Bank of New Hampshire lifted its stake in shares of Cognizant Technology Solutions by 1.2% in the 1st quarter. Bank of New Hampshire now owns 18,246 shares of the information technology service provider’s stock worth $1,337,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.3 %

Cognizant Technology Solutions stock opened at $68.90 on Wednesday. The stock has a market cap of $34.26 billion, a P/E ratio of 16.56, a PEG ratio of 2.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. Cognizant Technology Solutions Co. has a 1 year low of $61.93 and a 1 year high of $80.09. The firm’s 50 day moving average price is $67.09 and its 200-day moving average price is $72.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Monday. They issued a “neutral” rating and a $72.00 price objective on the stock. Citigroup decreased their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.44.

Cognizant Technology Solutions 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.