4,054 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, Holdings Channel.com reports. The fund bought 4,054 shares of the information technology service provider’s stock, valued at approximately $313,000.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Cognizant Technology Solutions by 32.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after purchasing an additional 4,365,493 shares during the period. Boston Partners increased its position in shares of Cognizant Technology Solutions by 3.0% during the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock valued at $544,942,000 after buying an additional 231,782 shares during the period. Northern Trust Corp lifted its holdings in shares of Cognizant Technology Solutions by 5.0% in the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after buying an additional 294,415 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cognizant Technology Solutions by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock valued at $206,066,000 after acquiring an additional 28,455 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Cognizant Technology Solutions by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock worth $113,804,000 after acquiring an additional 58,422 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $67.52 on Thursday. The firm has a market cap of $33.61 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.55 and a beta of 1.06. The firm’s fifty day moving average is $73.94 and its 200 day moving average is $72.55. Cognizant Technology Solutions Co. has a 52 week low of $58.09 and a 52 week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Research analysts predict that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Citigroup cut their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective on the stock. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.44.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.27% of the company’s stock.

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.