Bleakley Financial Group LLC Acquires 259 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bleakley Financial Group LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,185 shares of the information technology service provider’s stock after purchasing an additional 259 shares during the quarter. Bleakley Financial Group LLC’s holdings in Cognizant Technology Solutions were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. NBC Securities Inc. bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $27,000. Parkside Financial Bank & Trust grew its stake in shares of Cognizant Technology Solutions by 33.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after acquiring an additional 158 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $45,000. Money Concepts Capital Corp grew its stake in shares of Cognizant Technology Solutions by 42.6% in the 4th quarter. Money Concepts Capital Corp now owns 854 shares of the information technology service provider’s stock worth $49,000 after acquiring an additional 255 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CTSH shares. Societe Generale reiterated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Susquehanna restated a “neutral” rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Wedbush increased their price target on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, December 26th. Finally, Evercore ISI increased their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.65.

Cognizant Technology Solutions Stock Down 1.9 %

Shares of Cognizant Technology Solutions stock opened at $69.26 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. Cognizant Technology Solutions Co. has a 52-week low of $58.09 and a 52-week high of $80.09. The stock has a market capitalization of $34.48 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.61 and a beta of 1.06. The company’s 50 day moving average price is $75.47 and its 200-day moving average price is $72.54.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a $0.30 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.73%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

Cognizant Technology Solutions Company Profile

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, Health Sciences, Products and Resources, and Communications, Media and Technology.