Janiczek Wealth Management LLC Increases Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Janiczek Wealth Management LLC lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,496 shares of the information technology service provider’s stock after buying an additional 616 shares during the period. Janiczek Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares during the period. JPMorgan Chase & Co. lifted its stake in Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after acquiring an additional 4,365,493 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cognizant Technology Solutions by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after purchasing an additional 238,551 shares during the period. Norges Bank bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $406,360,000. Finally, National Bank of Canada FI increased its position in Cognizant Technology Solutions by 9.2% during the fourth quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock worth $354,822,000 after acquiring an additional 401,076 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.7 %

Shares of NASDAQ CTSH traded down $0.49 during mid-day trading on Thursday, hitting $67.81. 897,463 shares of the stock traded hands, compared to its average volume of 4,066,337. The stock has a fifty day moving average price of $67.11 and a 200-day moving average price of $72.40. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.06 and a beta of 1.04. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Citigroup dropped their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $75.44.

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.