Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) acquired from Advisor Group Holdings Inc


Advisor Group Holdings Inc. increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 30.3% in the first quarter, the company said in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,839 shares of the information technology services provider after purchasing a further 19,711 shares during the period. Advisor Group Holdings Inc.’s interests in Cognizant Technology Solutions were valued at $6,029,000 at the time of the last SEC filing.

Several other hedge funds have also changed their stock holdings. Albion Financial Group UT increased its stake in Cognizant Technology Solutions by 1.0% in the fourth quarter. Albion Financial Group UT now owns 11,994 shares of the information technology services provider, valued at $1,064,000, after purchasing an additional 117 shares last quarter. Oppenheimer & Co. Inc. increased its stake in Cognizant Technology Solutions by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology services provider, valued at $266,000, after buying another 124 shares last quarter. Concord Wealth Partners increased its stake in Cognizant Technology Solutions by 8.2% in the first quarter. Concord Wealth Partners now owns 1,826 shares of the information technology services provider, valued at $164,000, after buying an additional 138 shares last quarter. MV Capital Management Inc. increased its stake in Cognizant Technology Solutions by 94.8% in the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology services provider, valued at $27,000, after buying another 147 shares last quarter. Finally, AdvisorNet Financial Inc increased its position in Cognizant Technology Solutions by 44.4% in the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology services provider, valued at $43,000, after purchasing an additional 147 shares during the period. 90.73% of the shares are owned by hedge funds and other institutional investors.

Cognizant Technology Solutions stock performance

NASDAQ CTSH shares opened at $68.72 on Friday. The company has a debt to equity ratio of 0.05, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $35.58 billion, a price-to-earnings ratio of 15.94, a price-to-earnings ratio of 1.38 and a beta of 1.05. The company’s 50-day simple moving average is $68.76 and its 200-day simple moving average is $78.98. Cognizant Technology Solutions Co. has a 52-week low of $63.26 and a 52-week high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported EPS of $1.14 for the quarter, beating analysts’ consensus estimate of $1.09 by $0.05. The company had revenue of $4.91 billion in the quarter, compared to analyst estimates of $4.92 billion. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The company’s revenue for the quarter increased 7.0% year over year. In the same quarter last year, the company posted $0.99 per share. As a group, equity analysts expect Cognizant Technology Solutions Co. to report earnings per share of 4.54 for the current fiscal year.

Cognizant Technology Solutions announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19 will receive a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday August 18th. That equates to an annualized dividend of $1.08 and a yield of 1.57%. Cognizant Technology Solutions payout percentage is 25.06%.

Insider activity at Cognizant Technology Solutions

In related news, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction that took place on Tuesday, May 10th. The stock sold at an average price of $77.24 for a total transaction of $453,167.08. Upon completion of the sale, the Executive Vice President now owns 5,872 shares of the Company’s stock valued at approximately $453,553.28. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. In related news, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction that took place on Tuesday May 17th. The stock sold at an average price of $74.40 for a total transaction of $423,112.80. Upon completion of the sale, the Director now owns 57,534 shares of the Company, valued at approximately $4,280,529.60. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. In addition, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction that took place on Tuesday, May 10th. The shares sold at an average price of $77.24 for a total value of $453,167.08. Following the sale, the Executive Vice President now owns 5,872 shares of the Company’s stock valued at approximately $453,553.28. The disclosure for this sale can be found here. 0.34% of the shares are owned by company insiders.

Analyst upgrades and downgrades

Several research companies have recently commented on CTSH. Cowen lowered Cognizant Technology Solutions to a “market perform” rating and lowered its price target on the company to $75.00 from $86.00 in a research report Thursday, July 28. Susquehanna Bancshares lowered its target price on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28. Morgan Stanley lowered its target price on Cognizant Technology Solutions to $65.00 from $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28. Barclays lowered its price target on Cognizant Technology Solutions to $55.00 from $80.00 and ranked the stock as “underweight” in a research report on Tuesday, July 19. Finally, JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 28, and lowered its price target on the company to $77.00 from $82.00 . One analyst has rated the stock with a sell rating, six have given it a hold rating and four have given it a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target of $84.79.

Company profile of Cognizant Technology Solutions

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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 care; products and resources; and communication, media and technology.

Selected items

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)



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