Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by RBA Wealth Management LLC

RBA Wealth Management LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,553 shares of the information technology service provider’s stock after purchasing an additional 1,311 shares during the quarter. RBA Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $3,778,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after buying an additional 7,445,089 shares during the period. Norges Bank purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $406,360,000. JPMorgan Chase & Co. raised its stake in shares of Cognizant Technology Solutions by 32.8% during the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after purchasing an additional 4,365,493 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of Cognizant Technology Solutions by 1,861.7% during the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after purchasing an additional 1,600,621 shares during the period. Finally, KBC Group NV grew its position in Cognizant Technology Solutions by 2,083.8% in the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after buying an additional 1,357,755 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.5 %

Shares of CTSH stock traded down $0.31 during trading on Thursday, hitting $68.30. 1,230,286 shares of the company were exchanged, compared to its average volume of 3,713,830. The business’s 50-day simple moving average is $67.15 and its 200 day simple moving average is $72.21. 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 Co. has a twelve month low of $62.14 and a twelve month high of $80.09. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.05 and a beta of 1.05.

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 analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CTSH shares. The Goldman Sachs Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 24th. They set a “neutral” rating and a $72.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Guggenheim began coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Citigroup lowered 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 research report on Monday, April 22nd. Finally, Susquehanna cut their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $75.44.

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.