Exchange Traded Concepts LLC Purchases New Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Exchange Traded Concepts LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,092 shares of the information technology service provider’s stock, valued at approximately $161,000.

Several other institutional investors have also recently made changes to their positions in CTSH. Vanguard Group Inc. boosted its holdings in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after buying an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC grew its holdings 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 acquiring an additional 1,943,127 shares in the last quarter. Bank of Montreal Can increased its position in shares of Cognizant Technology Solutions by 152.8% during 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 acquiring an additional 1,281,236 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Cognizant Technology Solutions by 129.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after acquiring an additional 1,073,666 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.4 %

CTSH stock opened at $76.87 on Tuesday. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The firm has a market capitalization of $38.22 billion, a PE ratio of 18.48, a PEG ratio of 2.16 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. The stock has a 50-day simple moving average of $76.46 and a two-hundred day simple moving average of $71.71.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CTSH shares. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. Finally, Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.44.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’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 sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

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.