Gateway Investment Advisers LLC Acquires 1,792 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Gateway Investment Advisers LLC boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 38.1% during the third quarter, Holdings Channel.com reports. The fund owned 6,494 shares of the information technology service provider’s stock after acquiring an additional 1,792 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cognizant Technology Solutions were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CTSH. Vanguard Group Inc. grew its holdings in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of 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 in the last quarter. Boston Partners boosted its stake 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% during the second 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 period. Finally, Legal & General Group Plc boosted its stake in Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after buying an additional 142,225 shares during the period. Institutional investors own 92.44% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CTSH shares. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. JPMorgan Chase & Co. lifted their target price 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. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Jefferies Financial Group started 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 objective on the stock. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.44.

Cognizant Technology Solutions Stock Performance

CTSH opened at $75.94 on Monday. The firm has a market capitalization of $37.76 billion, a PE ratio of 18.25, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The firm’s 50-day moving average price is $75.95 and its 200 day moving average price is $71.49. 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 results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business posted $1.10 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.