Blue Trust Inc. Acquires 2,588 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Blue Trust Inc. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 163.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,171 shares of the information technology service provider’s stock after buying an additional 2,588 shares during the period. Blue Trust Inc.’s holdings in Cognizant Technology Solutions were worth $322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Vanguard Group Inc. raised its stake in Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after buying an additional 6,933,908 shares during the period. Cibc World Market Inc. grew its position in shares of Cognizant Technology Solutions by 19,850.5% in the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after purchasing an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Cognizant Technology Solutions by 11.7% in the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares during the last quarter. Bank of Montreal Can grew its position in shares of Cognizant Technology Solutions by 152.8% in the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after purchasing an additional 1,281,236 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after purchasing an additional 1,073,666 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTSH. Robert W. Baird upped their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Finally, Barclays increased their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $77.58.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.3 %

NASDAQ CTSH opened at $76.07 on Thursday. 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 twelve month low of $62.14 and a twelve month high of $80.27. The company has a market cap of $37.82 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The business’s fifty day moving average is $76.53 and its 200 day moving average is $71.77.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share 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 the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.10 EPS. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts expect 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. Investors 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 dividend payout ratio (DPR) is 28.85%.

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.