The Vanguard Group, Inc. has recently announced that it has increased stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 22.95%. After grabbing 51.11 million shares, the institutional investor is now in possession of 9.54 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.19% having worth around $3.86 billion. Moreover, JPMorgan Investment Management, I increased its share by 3.6 million to have a control over 15.39 million shares. And Geode Capital Management LLC raised its holdings to 0.22 million shares by acquiring 11.56 million shares or 2.31% of the stake.
Cognizant Technology Solutions Corp. (CTSH) concluded trading on Wednesday at a closing price of $76.95, with 3.47 million shares of worth about $267.27 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 13.43% during that period and On Wednesday, January 24 the price saw a loss of about -0.21%. Currently the company’s common shares owned by public are about 509.00M shares, out of which, 500.44M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 259 times over the past 12 months. They bought 284,998 shares in 159 of the transactions. In 100 selling transactions, insiders dumped 139,974 shares.
Vanguard Total Stock Market ETF, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Cognizant Technology Solutions Corp. Vanguard Total Stock Market ETF is currently holding 15.72 million shares of worth totaling $1.19 billion. The company recently came selling 96773.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Dodge & Cox Stock Fund bought 74200.0 shares, after which its hold over company’s outstanding shares expand to 2.88%, leaving 14.44 million shares with the mutual fund that have a worth of about $1.09 billion. Vanguard 500 Index Fund, after selling 12.24 million shares, have now control over 2.44% of the stake in the company. It holds 68185.0 shares of worth $924.7 million.
However, the stock later moved at a day high price of 77.55, or with a loss of -0.21%. Stock saw a price change of 1.65% in past 5 days and over the past one month there was a price change of 3.76%. Year-to-date (YTD), CTSH shares are showing a performance of 1.88% which increased to 19.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $56.45 but also hit the highest price of $78.42 during that period. The average intraday trading volume for Cognizant Technology Solutions Corp. shares is 3.47 million. The stock is currently trading 2.33% above its 20-day simple moving average (SMA20), while that difference is up 6.02% for SMA50 and it goes to 14.16% higher than SMA200.
The Vanguard Group, Inc. acquired 51.11 million shares of Cognizant Technology Solutions Corp. having value of about $3.86 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 9.54 million shares in the company valued at close to $734138089.2, or have control over 22.95% stake in the company. Cognizant Technology Solutions Corp. (NASDAQ: CTSH) currently have 509.00M outstanding shares and institutions hold larger chunk of about 96.05% of that. Holding of mutual funds in the company is about 39.36% while other institutional holders and individual stake holders have control over 57.88% and 0.80% of the stake respectively.
The stock has a current market capitalization of $38.58B and its 3Y-monthly beta is at 1.08. PE ratio of stock for trailing 12 months is 18.73, while it has posted earnings per share of $4.11 in the same period. Its PEG reads 4.27 and has Quick Ratio of 2.23 while making debt-to-equity ratio of 0.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CTSH, volatility over the week remained 1.40% while standing at 1.47% over the month.
Analysts are in expectations that Cognizant Technology Solutions Corp. (CTSH) stock would likely to be making an EPS of $1.04 in the current quarter, while forecast for next quarter EPS is $1.1 and it is $4.63 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.98 which is $1.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.35% while it is estimated to increase by 3.75% in next year. EPS is likely to shrink at an annualized rate of 4.39% for next 5-years, compared to annual growth of 11.79% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Societe Generale on January 05, 2024 offering a Sell rating for the stock and assigned a target price of $67 to it.
