Meiji Yasuda Asset Management Co Ltd. Has $802,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Meiji Yasuda Asset Management Co Ltd. grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,798 shares of the information technology service provider’s stock after purchasing an additional 1,391 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cognizant Technology Solutions were worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTSH. Unison Advisors LLC boosted its holdings in Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after buying an additional 172 shares during the last quarter. Choate Investment Advisors grew its holdings in Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after purchasing an additional 180 shares during the period. Lederer & Associates Investment Counsel CA increased its stake in Cognizant Technology Solutions by 1.5% in the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after purchasing an additional 190 shares in the last quarter. First Personal Financial Services raised its holdings in Cognizant Technology Solutions by 0.6% in the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after purchasing an additional 195 shares during the period. Finally, Delta Financial Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 1.0% during the first quarter. Delta Financial Advisors LLC now owns 19,506 shares of the information technology service provider’s stock worth $1,430,000 after purchasing an additional 196 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $75.64 on Friday. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a market cap of $37.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The business’s 50 day moving average price is $75.40 and its two-hundred day moving average price is $71.43. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CTSH. Barclays raised their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Mizuho restated a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.44.

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.