Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,790 shares of the information technology service provider’s stock after purchasing an additional 630 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $258,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares in the last quarter. Blair William & Co. IL raised its stake in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after acquiring an additional 412 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Cognizant Technology Solutions by 373.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 76,159 shares of the information technology service provider’s stock valued at $5,752,000 after acquiring an additional 60,086 shares in the last quarter. Duality Advisers LP bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at $1,687,000. Finally, Norden Group LLC bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at $233,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTSH. Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Barclays lifted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Mizuho reissued a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Finally, Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One 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 stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $77.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.6 %

NASDAQ:CTSH opened at $75.64 on Friday. The firm has a market capitalization of $37.61 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $75.40 and its 200 day moving average price is $71.38.

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 the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share 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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

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.