Argent Trust Co Buys 750 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Argent Trust Co raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,847 shares of the information technology service provider’s stock after acquiring an additional 750 shares during the quarter. Argent Trust Co’s holdings in Cognizant Technology Solutions were worth $330,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its position in Cognizant Technology Solutions by 21.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,400 shares of the information technology service provider’s stock worth $408,000 after purchasing an additional 943 shares during the period. Skopos Labs Inc. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $362,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 1.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 199,413 shares of the information technology service provider’s stock valued at $15,062,000 after acquiring an additional 2,944 shares in the last quarter. Johnson Financial Group Inc. increased its stake in Cognizant Technology Solutions by 5.7% in the fourth quarter. Johnson Financial Group Inc. now owns 5,167 shares of the information technology service provider’s stock valued at $390,000 after acquiring an additional 277 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in Cognizant Technology Solutions in the fourth quarter worth about $20,771,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $75.64 on Friday. The stock has a market capitalization of $37.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company has a 50 day moving average price of $75.40 and a 200 day moving average price of $71.43. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27.

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, topping analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. Analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTSH shares. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. 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. Jefferies Financial Group assumed 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 on the stock. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.44.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’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 transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

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.