60,781 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Norden Group LLC

Norden Group LLC bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the first quarter, according to its most recent filing with the SEC. The firm bought 60,781 shares of the information technology service provider’s stock, valued at approximately $4,455,000.

Other institutional investors also recently bought and sold shares of the company. IFG Advisory LLC boosted its stake 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 worth $5,070,000 after purchasing an additional 20,874 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cognizant Technology Solutions by 17.0% during the 4th 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 acquiring an additional 7,445,089 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 valued at $39,242,000 after acquiring an additional 38,526 shares during the period. Merit Financial Group LLC lifted its stake in Cognizant Technology Solutions by 16.8% during 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 acquiring an additional 508 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $1,786,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.5 %

Shares of CTSH opened at $68.30 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.09. The firm has a 50-day moving average price of $67.14 and a 200 day moving average price of $72.24. The firm has a market capitalization of $33.96 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.05 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.72 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective for the company. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.44.

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.