E Fund Management Co. Ltd. Has $680,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

E Fund Management Co. Ltd. increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 20.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,001 shares of the information technology service provider’s stock after purchasing an additional 1,678 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the 2nd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth approximately $28,000. Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $40,000. Unique Wealth Strategies LLC acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth approximately $40,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Robert W. Baird raised their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $77.44.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s 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 sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $75.35 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a fifty day moving average price of $75.21 and a two-hundred day moving average price of $71.43. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The firm has a market capitalization of $37.46 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.14 and a beta of 1.05.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced 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 was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Cognizant Technology Solutions Company 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.