Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.8% in the 4th quarter, HoldingsChannel reports. The fund owned 3,523 shares of the information technology service provider’s stock after acquiring an additional 508 shares during the period. Merit Financial Group LLC’s holdings in Cognizant Technology Solutions were worth $266,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. IFG Advisory LLC increased its holdings in Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after buying an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Cognizant Technology Solutions by 36.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after acquiring an additional 324,638 shares during the last quarter. PGGM Investments raised its position in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after acquiring an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Cognizant Technology Solutions by 110.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after purchasing an additional 704,932 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in Cognizant Technology Solutions by 4.4% in the fourth quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock valued at $358,000 after purchasing an additional 199 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the 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 transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $67.72 on Thursday. The stock has a market capitalization of $33.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a 1 year low of $60.26 and a 1 year high of $80.09. The company’s fifty day moving average is $71.82 and its two-hundred day moving average is $72.57.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. On average, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a $0.30 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTSH shares. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Susquehanna reduced their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Guggenheim initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.67.

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.