Richard Bernstein Advisors LLC held its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,513 shares of the information technology service provider’s stock at the end of the second quarter. Richard Bernstein Advisors LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,960,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Guardian Life Insurance Co. of America raised its stake in shares of Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares during the last quarter. Lakeview Capital Partners LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter worth about $210,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $192,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.
Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 70.07 on Monday. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $72.07. The company has a 50-day moving average of $69.29 and a 200-day moving average of $63.21. The company has a market capitalization of $41.38 billion, a PE ratio of 22.48 and a beta of 1.17.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is presently 19.17%.
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CTSH has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Needham & Company LLC boosted their price objective on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 15th. Robert W. Baird boosted their price objective on Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Deutsche Bank AG reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. Finally, Societe Generale lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and boosted their price objective for the company from $68.00 to $74.00 in a report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.02.
In other Cognizant Technology Solutions Corporation news, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $66.00, for a total value of $99,000.00. Following the completion of the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $693,990. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Venkat Krishnaswamy sold 4,205 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $66.75, for a total transaction of $280,683.75. Following the completion of the transaction, the insider now owns 13,540 shares of the company’s stock, valued at $903,795. The disclosure for this sale can be found here. Insiders sold a total of 91,222 shares of company stock valued at $6,326,183 over the last 90 days. Corporate insiders own 1.08% of the company’s stock.
About Cognizant Technology Solutions Corporation
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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