Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by CX Institutional

CX Institutional lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,066 shares of the information technology service provider’s stock after acquiring an additional 205 shares during the period. CX Institutional’s holdings in Cognizant Technology Solutions were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in 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 worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Pzena Investment Management LLC lifted 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 buying an additional 1,943,127 shares during the period. 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 valued at $569,175,000 after buying an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cognizant Technology Solutions by 1.7% in 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 acquiring an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after acquiring an additional 142,225 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Trading Up 0.2 %

NASDAQ:CTSH opened at $77.74 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $76.32 and its 200-day moving average is $71.63. The firm has a market cap of $38.65 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.16 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.

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, topping 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 business 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 company posted $1.10 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Buying and Selling

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CTSH shares. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.