Moneta Group Investment Advisors LLC grew its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 50.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,526 shares of the information technology service provider’s stock after purchasing an additional 2,514 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $594,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of CTSH. Redwood Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $917,000. Madison Investment Holdings Inc. bought a new position in Cognizant Technology Solutions in the second quarter worth about $50,081,000. OMERS ADMINISTRATION Corp bought a new position in Cognizant Technology Solutions in the first quarter worth about $6,665,000. Millennium Management LLC raised its holdings in Cognizant Technology Solutions by 8.3% in the first quarter. Millennium Management LLC now owns 1,638,312 shares of the information technology service provider’s stock worth $131,884,000 after purchasing an additional 126,235 shares in the last quarter. Finally, Linscomb & Williams Inc. raised its holdings in Cognizant Technology Solutions by 24.1% in the second quarter. Linscomb & Williams Inc. now owns 5,793 shares of the information technology service provider’s stock worth $458,000 after purchasing an additional 1,125 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on CTSH shares. Cowen reiterated a “buy” rating and issued a $87.00 target price on shares of Cognizant Technology Solutions in a report on Friday, August 3rd. Bank of America downgraded shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $91.00 to $81.00 in a report on Tuesday, September 4th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, August 2nd. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a report on Tuesday, August 14th. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.18.
CTSH opened at $76.28 on Friday. Cognizant Technology Solutions Corp has a 52-week low of $69.69 and a 52-week high of $85.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.27. The stock has a market cap of $43.92 billion, a PE ratio of 19.02, a P/E/G ratio of 1.39 and a beta of 0.94.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 22.66%.
Cognizant Technology Solutions Profile
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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