SGL Investment Advisors Inc. Takes $330,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

SGL Investment Advisors Inc. bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,083 shares of the information technology service provider’s stock, valued at approximately $330,000.

Other institutional investors also recently modified their holdings of the company. Cibc World Market Inc. boosted its stake in Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after purchasing an additional 3,000,996 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares in the last quarter. Bank of Montreal Can raised its position in Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after buying an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Cognizant Technology Solutions by 146.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after acquiring an additional 978,579 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a filing 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 0.5 %

NASDAQ CTSH opened at $81.15 on Monday. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.24 and a beta of 1.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The stock’s 50 day moving average is $77.88 and its two-hundred day moving average is $74.18.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTSH. Mizuho raised their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.47.

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.