Bowling Portfolio Management LLC Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bowling Portfolio Management LLC purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,423 shares of the information technology service provider’s stock, valued at approximately $935,000.

Other large investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Cognizant Technology Solutions by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock worth $266,000 after purchasing an additional 124 shares during the last quarter. Ascent Group LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $600,000. NN Investment Partners Holdings N.V. increased its position in shares of Cognizant Technology Solutions by 2.3% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 86,746 shares of the information technology service provider’s stock worth $7,695,000 after purchasing an additional 1,909 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Cognizant Technology Solutions by 80.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 106,535 shares of the information technology service provider’s stock worth $9,452,000 after purchasing an additional 47,359 shares during the last quarter. Finally, Cornerstone Advisory LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $27,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

CTSH opened at $67.48 on Thursday. The business has a fifty day simple moving average of $75.39 and a 200 day simple moving average of $83.09. The company has a market capitalization of $35.17 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. Cognizant Technology Solutions Co. has a 1 year low of $65.24 and a 1 year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.83 billion. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, May 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.60%. Cognizant Technology Solutions’s payout ratio is 25.90%.

In other news, EVP Andrew J. Stafford sold 5,867 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Patsalos-Fox sold 5,687 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the transaction, the director now directly owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

CTSH has been the topic of a number of recent analyst reports. Cowen decreased their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Citigroup decreased their target price on Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. StockNews.com lowered Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 11th. Finally, Cowen decreased their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $92.53.

About Cognizant Technology Solutions (Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

Featured Articles

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating).

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.