Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6,162.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,198 shares of the information technology service provider’s stock after buying an additional 5,115 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cognizant Technology Solutions were worth $353,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions in the second quarter worth about $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Benjamin Edwards Inc. lifted its holdings in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new position in Cognizant Technology Solutions during the 2nd quarter worth $40,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CTSH shares. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. Mizuho restated a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.44.

Insider Activity at Cognizant Technology Solutions

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

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $76.04 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market capitalization of $37.81 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The stock has a fifty day moving average of $75.52 and a 200-day moving average of $71.33. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly 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. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. As a group, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

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.