Capital Research Global Investors Buys 1,095,473 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Capital Research Global Investors increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 11.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,619,591 shares of the information technology service provider’s stock after acquiring an additional 1,095,473 shares during the period. Capital Research Global Investors owned about 2.04% of Cognizant Technology Solutions worth $952,259,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Albion Financial Group UT raised its holdings in Cognizant Technology Solutions by 1.0% during the fourth quarter. Albion Financial Group UT now owns 11,994 shares of the information technology service provider’s stock worth $1,064,000 after acquiring an additional 117 shares in the last quarter. Concord Wealth Partners raised its holdings in Cognizant Technology Solutions by 8.2% during the first quarter. Concord Wealth Partners now owns 1,826 shares of the information technology service provider’s stock worth $164,000 after acquiring an additional 138 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Cognizant Technology Solutions by 44.4% during the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology service provider’s stock worth $43,000 after acquiring an additional 147 shares in the last quarter. LaFleur & Godfrey LLC raised its holdings in Cognizant Technology Solutions by 1.9% during the first quarter. LaFleur & Godfrey LLC now owns 7,950 shares of the information technology service provider’s stock worth $713,000 after acquiring an additional 150 shares in the last quarter. Finally, Trust Asset Management LLC raised its stake in Cognizant Technology Solutions by 2.9% in the first quarter. Trust Asset Management LLC now owns 5,339 shares of the information technology service provider’s stock valued at $479,000 after buying an additional 150 shares during the period. Institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several research analyst reports. Barclays dropped their price objective on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 19th. HSBC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $79.00 in a research note on Wednesday, August 17th. Susquehanna Bancshares dropped their price objective on Cognizant Technology Solutions from $100.00 to $98.00 in a research note on Thursday, July 28th. JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $82.00 to $77.00 in a research note on Thursday, July 28th. Finally, Cowen lowered Cognizant Technology Solutions to a “market perform” rating and dropped their price objective for the company from $86.00 to $75.00 in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.63.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the sale, the director now owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.3 %

Shares of NASDAQ:CTSH opened at $62.03 on Thursday. The company has a market capitalization of $32.12 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.31 and a beta of 1.06. Cognizant Technology Solutions Co. has a 1 year low of $61.59 and a 1 year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23. The business’s 50 day simple moving average is $66.73 and its 200 day simple moving average is $75.16.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.55 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Friday, August 19th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.06%.

Cognizant Technology Solutions Company Profile

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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.

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

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