Hennion & Walsh Asset Management Inc. Purchases 547 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hennion & Walsh Asset Management Inc. grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.4% during the first quarter, HoldingsChannel reports. The firm owned 5,798 shares of the information technology service provider’s stock after buying an additional 547 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vision Capital Management Inc. boosted its position in Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after acquiring an additional 144 shares during the last quarter. Nilsine Partners LLC boosted its position in shares of Cognizant Technology Solutions by 4.3% during the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after purchasing an additional 156 shares in the last quarter. Unison Advisors LLC boosted its position 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 purchasing an additional 172 shares in the last quarter. Valley National Advisers Inc. increased its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Cognizant Technology Solutions by 2.5% in the fourth quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock valued at $557,000 after buying an additional 181 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ: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. The stock has a market cap of $33.96 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. The stock’s fifty day simple moving average is $67.14 and its two-hundred day simple moving average is $72.24. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analyst Ratings Changes

CTSH has been the subject of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 24th. They issued 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 issued a “neutral” rating and a $80.00 price target for the company. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Susquehanna decreased their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Mizuho reiterated a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.