Kathmere Capital Management LLC Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kathmere Capital Management LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,313 shares of the information technology service provider’s stock after purchasing an additional 376 shares during the period. Kathmere Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Benjamin Edwards Inc. lifted its position in Cognizant Technology Solutions by 42.1% during the second 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 in the last quarter. Unison Advisors LLC raised its holdings in Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after acquiring an additional 172 shares during the period. Choate Investment Advisors raised its holdings in Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after acquiring an additional 180 shares during the period. Lederer & Associates Investment Counsel CA raised its holdings in Cognizant Technology Solutions by 1.5% during the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after acquiring an additional 190 shares during the period. Finally, First Personal Financial Services raised its holdings in Cognizant Technology Solutions by 0.6% during the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after acquiring an additional 195 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of NASDAQ:CTSH opened at $76.89 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The business has a 50 day simple moving average of $75.61 and a two-hundred day simple moving average of $71.36. The firm has a market capitalization of $38.23 billion, a PE ratio of 18.48, 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion during 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analyst Ratings Changes

A number of equities research analysts have commented on CTSH shares. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Mizuho reaffirmed a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.44.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. 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.

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.