593 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the second quarter, according to its most recent filing with the SEC. The firm bought 593 shares of the information technology service provider’s stock, valued at approximately $40,000.

A number of other institutional investors also recently bought and sold shares of CTSH. Vanguard Group Inc. boosted its stake in Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares in the last quarter. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $406,360,000. Cibc World Market Inc. lifted its stake in Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares during the period. Pzena Investment Management LLC lifted its stake in Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares during the period. Finally, Cibc World Markets Corp lifted its stake in Cognizant Technology Solutions by 1,861.7% during the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after acquiring an additional 1,600,621 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTSH has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday. Finally, Mizuho reiterated a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.44.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.2 %

CTSH stock opened at $77.21 on Monday. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.14 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 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 $80.27. The firm has a 50-day moving average of $74.67 and a two-hundred day moving average of $71.42.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

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.