Toronto Dominion Bank Has $52.90 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Toronto Dominion Bank lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 138.8% during the second quarter, Holdings Channel.com reports. The firm owned 778,004 shares of the information technology service provider’s stock after buying an additional 452,201 shares during the period. Toronto Dominion Bank’s holdings in Cognizant Technology Solutions were worth $52,904,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions in the second quarter valued at about $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the 1st quarter valued at about $28,000. Benjamin Edwards Inc. boosted its stake in shares of Cognizant Technology Solutions by 42.1% in the 2nd 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 acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Cognizant Technology Solutions during the second quarter worth approximately $40,000. 92.44% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction 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 owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Trading Down 0.7 %

CTSH opened at $75.53 on Thursday. The firm’s fifty day simple moving average is $75.52 and its 200 day simple moving average is $71.33. The stock has a market capitalization of $37.44 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.14 and a beta of 1.05. 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 Co. has a 12 month low of $62.14 and a 12 month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal 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 paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTSH. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Mizuho reaffirmed a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Barclays upped their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.44.

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.