Moon Capital Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,592 shares of the information technology service provider’s stock after buying an additional 270 shares during the period. Cognizant Technology Solutions Corporation makes up approximately 5.2% of Moon Capital Management LLC’s portfolio, making the stock its 6th largest position. Moon Capital Management LLC’s holdings in Cognizant Technology Solutions Corporation were worth $4,820,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Moreno Evelyn V raised its position in shares of Cognizant Technology Solutions Corporation by 15.7% in the first quarter. Moreno Evelyn V now owns 136,275 shares of the information technology service provider’s stock worth $8,111,000 after buying an additional 18,540 shares in the last quarter. CENTRAL TRUST Co raised its stake in Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock valued at $379,000 after buying an additional 770 shares during the period. Pensionfund DSM Netherlands raised its stake in Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock valued at $3,714,000 after buying an additional 2,000 shares during the period. Private Advisor Group LLC raised its stake in Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after buying an additional 19,218 shares during the period. Finally, Regentatlantic Capital LLC raised its stake in Cognizant Technology Solutions Corporation by 7.9% in the first quarter. Regentatlantic Capital LLC now owns 11,718 shares of the information technology service provider’s stock valued at $697,000 after buying an additional 861 shares during the period. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 1.53% during midday trading on Monday, hitting $71.69. The stock had a trading volume of 662,409 shares. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.75. The stock’s 50-day moving average is $68.68 and its 200-day moving average is $62.67. The company has a market capitalization of $42.34 billion, a PE ratio of 23.00 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.
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Several analysts recently weighed in on the company. Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $85.00 in a research report on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating and set a $76.00 price objective (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.02.
In related news, insider Sean Middleton sold 1,460 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.39, for a total transaction of $98,389.40. Following the completion of the transaction, the insider now owns 2,308 shares of the company’s stock, valued at approximately $155,536.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkat Krishnaswamy sold 4,205 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $66.75, for a total transaction of $280,683.75. Following the sale, the insider now owns 13,540 shares in the company, valued at $903,795. The disclosure for this sale can be found here. In the last three months, insiders sold 77,528 shares of company stock valued at $5,306,449. Corporate insiders own 1.08% of the company’s stock.
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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