Trinity Legacy Partners LLC Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Trinity Legacy Partners LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 52,744 shares of the information technology service provider’s stock, valued at approximately $3,587,000.

Several other institutional investors have also recently added to or reduced their stakes in CTSH. Vanguard Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 11.7% in the second 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 purchasing an additional 1,943,127 shares during the last quarter. Boston Partners lifted its position in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after buying an additional 101,078 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after buying an additional 67,017 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.1 %

NASDAQ CTSH opened at $76.04 on Wednesday. The company’s fifty day simple moving average is $75.52 and its 200-day simple moving average is $71.33. The stock has a market cap of $37.69 billion, a P/E ratio of 18.28, a PEG ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. 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 (NASDAQ:CTSH) last posted its quarterly earnings data 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 net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTSH. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Robert W. Baird boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. boosted their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.44.

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.