Sunbelt Securities Inc. Has $779,000 Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sunbelt Securities Inc. raised its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,462 shares of the information technology service provider’s stock after buying an additional 240 shares during the period. Sunbelt Securities Inc.’s holdings in Cognizant Technology Solutions were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTSH. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions during the second quarter worth approximately $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions during the first quarter valued at approximately $28,000. Benjamin Edwards Inc. grew its stake in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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 dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. 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 price target on the stock. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Robert W. Baird lifted their target price 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. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.44.

Cognizant Technology Solutions Trading Up 0.4 %

CTSH opened at $77.18 on Tuesday. The stock has a market capitalization of $38.37 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The firm’s fifty day simple moving average is $75.65 and its 200 day simple moving average is $71.33. 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 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 EPS. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.55%. 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.