Sanctuary Advisors LLC Acquires Shares of 70,417 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sanctuary Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 70,417 shares of the information technology service provider’s stock, valued at approximately $4,714,000.

Other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions during the 2nd quarter worth $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions in the first quarter worth about $28,000. Benjamin Edwards Inc. increased its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new position in Cognizant Technology Solutions during the 2nd quarter worth approximately $40,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $77.14 on Friday. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The stock has a market capitalization of $38.35 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.14 and a beta of 1.05. The firm’s 50 day moving average is $75.89 and its 200-day moving average is $71.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

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 (EPS) for the quarter, beating the consensus estimate 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 company 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 company earned $1.10 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Mizuho restated a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.