American National Registered Investment Advisor Inc. maintained its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,760 shares of the information technology service provider’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $515,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Cognizant Technology Solutions Corporation by 0.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 122,495 shares of the information technology service provider’s stock valued at $6,863,000 after buying an additional 615 shares during the period. RMB Capital Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 17.7% in the fourth quarter. RMB Capital Management LLC now owns 423,805 shares of the information technology service provider’s stock valued at $23,746,000 after buying an additional 63,764 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at about $18,210,000. HighPoint Advisor Group LLC bought a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at about $669,000. Finally, M Holdings Securities Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 62.3% in the fourth quarter. M Holdings Securities Inc. now owns 16,825 shares of the information technology service provider’s stock valued at $943,000 after buying an additional 6,458 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 71.18 on Friday. The stock has a 50 day moving average of $67.94 and a 200 day moving average of $62.02. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.57. The company has a market cap of $41.92 billion, a PE ratio of 25.89 and a beta of 1.17.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Cognizant Technology Solutions Corporation will post $3.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.
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Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research report on Friday. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday. Cowen and Company restated a “buy” rating and issued a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Finally, Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price target on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $66.50.
In other news, insider Debashis Chatterjee sold 3,452 shares of Cognizant Technology Solutions Corporation stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $69.50, for a total value of $239,914.00. Following the completion of the sale, the insider now directly owns 42,628 shares of the company’s stock, valued at $2,962,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, May 8th. The shares were sold at an average price of $62.50, for a total value of $750,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,783 shares of company stock worth $4,222,615. 1.08% of the stock is currently owned by company insiders.
Cognizant Technology Solutions Corporation Company Profile
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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