Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by V Square Quantitative Management LLC

V Square Quantitative Management LLC raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,169 shares of the information technology service provider’s stock after buying an additional 194 shares during the quarter. V Square Quantitative Management LLC’s holdings in Cognizant Technology Solutions were worth $862,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $28,000. Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. lifted its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Cognizant Technology Solutions during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $78.00 on Friday. The company has a fifty day moving average of $76.39 and a two-hundred day moving average of $71.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The company has a market capitalization of $38.78 billion, a PE ratio of 18.75, a P/E/G ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s quarterly 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 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CTSH shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Barclays boosted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued 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 $77.44.

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.