Denali Advisors LLC Acquires 1,411 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Denali Advisors LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 50.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,211 shares of the information technology service provider’s stock after buying an additional 1,411 shares during the period. Denali Advisors LLC’s holdings in Cognizant Technology Solutions were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. LVW Advisors LLC boosted its stake in Cognizant Technology Solutions by 14.4% in the 1st quarter. LVW Advisors LLC now owns 6,137 shares of the information technology service provider’s stock worth $450,000 after purchasing an additional 774 shares during the period. Grimes & Company Inc. raised its position in Cognizant Technology Solutions by 3.1% in the 1st quarter. Grimes & Company Inc. now owns 155,050 shares of the information technology service provider’s stock valued at $11,364,000 after buying an additional 4,661 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Cognizant Technology Solutions by 10.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,798 shares of the information technology service provider’s stock valued at $425,000 after acquiring an additional 547 shares in the last quarter. Toth Financial Advisory Corp boosted its position in Cognizant Technology Solutions by 0.9% during the 1st quarter. Toth Financial Advisory Corp now owns 35,359 shares of the information technology service provider’s stock worth $2,591,000 after acquiring an additional 311 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $852,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $68.30 on Thursday. The company has a market cap of $33.96 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.05 and a beta of 1.05. The business’s 50 day simple moving average is $67.14 and its 200 day simple moving average is $72.24. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of analyst reports. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Citigroup lowered their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. Finally, Barclays decreased their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $75.44.

Cognizant Technology Solutions 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.