GAMMA Investing LLC Increases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

GAMMA Investing LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,408 shares of the information technology service provider’s stock after purchasing an additional 354 shares during the period. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $26,000. Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at about $40,000. Quarry LP purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $43,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $65.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The company’s fifty day moving average price is $67.13 and its 200 day moving average price is $72.47. The stock has a market capitalization of $32.72 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.97 and a beta of 1.04. Cognizant Technology Solutions Co. has a 1 year low of $61.23 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter last year, the business earned $1.11 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.82%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Analysts Set New Price Targets

Several brokerages have commented on CTSH. BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Barclays cut their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Mizuho reaffirmed a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Finally, Guggenheim initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.67.

About Cognizant Technology Solutions

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.