Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.7% in the 1st quarter, Holdings Channel reports. The fund owned 4,408 shares of the information technology service provider’s stock after acquiring an additional 354 shares during the period. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CTSH. IFG Advisory LLC boosted its holdings in Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after purchasing an additional 20,874 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after acquiring an additional 324,638 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock worth $39,242,000 after purchasing an additional 38,526 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Cognizant Technology Solutions by 16.8% in the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after purchasing an additional 508 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $65.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $32.72 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a 50-day simple moving average of $67.13 and a 200-day simple moving average of $72.47. Cognizant Technology Solutions Co. has a 12 month low of $61.23 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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. 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 during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the company earned $1.11 EPS. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm 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 yield of 1.82%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTSH shares. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. Finally, Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.67.

About Cognizant Technology Solutions

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.