Frank Rimerman Advisors LLC Has $472,000 Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Frank Rimerman Advisors LLC increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,116 shares of the information technology service provider’s stock after purchasing an additional 918 shares during the period. Frank Rimerman Advisors LLC’s holdings in Cognizant Technology Solutions were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CTSH. Wealth Enhancement Advisory Services LLC boosted its position in Cognizant Technology Solutions by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,420 shares of the information technology service provider’s stock worth $3,256,000 after acquiring an additional 1,650 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Cognizant Technology Solutions by 10.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,798 shares of the information technology service provider’s stock valued at $425,000 after acquiring an additional 547 shares in the last quarter. Denali Advisors LLC increased its position in shares of Cognizant Technology Solutions by 50.4% in the first quarter. Denali Advisors LLC now owns 4,211 shares of the information technology service provider’s stock valued at $309,000 after acquiring an additional 1,411 shares during the last quarter. Albion Financial Group UT raised its holdings in Cognizant Technology Solutions by 7.6% during the first quarter. Albion Financial Group UT now owns 13,197 shares of the information technology service provider’s stock worth $967,000 after acquiring an additional 929 shares in the last quarter. Finally, Norden Group LLC bought a new position in Cognizant Technology Solutions in the first quarter valued at approximately $4,455,000. Institutional investors own 92.44% of the company’s stock.

Insider Transactions 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 that occurred 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 completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Stock Up 0.2 %

NASDAQ CTSH opened at $74.98 on Tuesday. The company has a market cap of $37.28 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year 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. The company has a 50 day moving average of $76.48 and a 200-day moving average of $71.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its 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. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share 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. Stockholders of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.58.

About Cognizant Technology Solutions

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.