Denali Advisors LLC Has $593,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Denali Advisors LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 107.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,715 shares of the information technology service provider’s stock after purchasing an additional 4,504 shares during the period. Denali Advisors LLC’s holdings in Cognizant Technology Solutions were worth $593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in Cognizant Technology Solutions by 21.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,400 shares of the information technology service provider’s stock worth $408,000 after buying an additional 943 shares in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $406,360,000. Coldstream Capital Management Inc. raised its holdings in shares of Cognizant Technology Solutions by 18.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 8,496 shares of the information technology service provider’s stock valued at $642,000 after purchasing an additional 1,293 shares during the last quarter. Balentine LLC lifted its position in shares of Cognizant Technology Solutions by 4.9% during the fourth quarter. Balentine LLC now owns 5,540 shares of the information technology service provider’s stock valued at $418,000 after purchasing an additional 259 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in Cognizant Technology Solutions by 123.9% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 219,223 shares of the information technology service provider’s stock worth $16,558,000 after purchasing an additional 121,296 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Down 2.1 %

NASDAQ:CTSH opened at $76.22 on Wednesday. The company has a market cap of $37.90 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock’s fifty day moving average price is $75.06 and its two-hundred day moving average price is $71.40.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTSH. Barclays lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $77.44.

Cognizant Technology Solutions Company 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.