Leuthold Group LLC Buys 2,579 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Leuthold Group LLC raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 53.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,407 shares of the information technology service provider’s stock after acquiring an additional 2,579 shares during the quarter. Leuthold Group LLC’s holdings in Cognizant Technology Solutions were worth $559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $26,000. NBC Securities Inc. acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $27,000. Spire Wealth Management increased its stake in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 193 shares during the last quarter. Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after buying an additional 162 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. 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.

Cognizant Technology Solutions Stock Up 1.0 %

NASDAQ CTSH traded up $0.68 on Tuesday, hitting $67.10. 523,065 shares of the company were exchanged, compared to its average volume of 4,310,123. The company has a market cap of $33.41 billion, a PE ratio of 15.97, a PEG ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions Co. has a 12 month low of $60.26 and a 12 month high of $80.09. The stock has a fifty day moving average of $72.05 and a 200-day moving average of $72.55. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be issued a $0.30 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Analyst Ratings Changes

A number of research analysts have recently commented on CTSH shares. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Barclays reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, BMO Capital Markets cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $75.67.

Cognizant Technology Solutions Profile

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.