GAMMA Investing LLC Has $681,000 Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

GAMMA Investing LLC boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 47.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,822 shares of the information technology service provider’s stock after buying an additional 2,833 shares during the quarter. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $681,000 at the end of the most recent quarter.

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

Cognizant Technology Solutions Stock Up 0.2 %

Shares of CTSH opened at $76.13 on Wednesday. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.14 and a beta of 1.05. 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 Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The company has a 50-day moving average price of $75.92 and a two-hundred day moving average price of $71.40.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

A number of research firms have issued reports on CTSH. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Mizuho restated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Barclays upped their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $77.44.

Insider Transactions at Cognizant Technology Solutions

In other 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 transaction of $495,584.48. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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.