IFG Advisory LLC increased its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,235 shares of the information technology service provider’s stock after buying an additional 730 shares during the period. IFG Advisory LLC’s holdings in Cognizant Technology Solutions were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CTSH. Kaizen Advisory LLC lifted its position in Cognizant Technology Solutions by 149.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after acquiring an additional 856 shares in the last quarter. Willingdon Wealth Management bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $120,000. Fort L.P. bought a new position in Cognizant Technology Solutions in the 2nd quarter valued at approximately $123,000. Stratos Wealth Partners LTD. bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $146,000. Finally, San Francisco Sentry Investment Group CA lifted its position in Cognizant Technology Solutions by 170.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.
NASDAQ CTSH opened at $71.24 on Friday. The firm has a market cap of $40.41 billion, a PE ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.96. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a 1-year low of $65.14 and a 1-year high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.06. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. As a group, analysts forecast that Cognizant Technology Solutions Corp will post 4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 19th. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Cognizant Technology Solutions’s payout ratio is 22.66%.
Several research firms recently issued reports on CTSH. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, August 2nd. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 13th. Wolfe Research began coverage on Cognizant Technology Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Cowen reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. Finally, Morgan Stanley lowered their price objective on Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $84.42.
In other news, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total value of $26,361.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Telesmanic sold 834 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $77.15, for a total value of $64,343.10. Following the completion of the sale, the senior vice president now owns 18,823 shares of the company’s stock, valued at $1,452,194.45. The disclosure for this sale can be found here. Insiders have sold a total of 8,063 shares of company stock worth $611,427 over the last three months. Insiders own 0.60% of the company’s stock.
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About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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