2,715 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Fisher Asset Management LLC

Fisher Asset Management LLC purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor purchased 2,715 shares of the information technology service provider’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at about $465,540,000. First Trust Advisors LP boosted its position in Cognizant Technology Solutions by 50.0% in the 4th quarter. First Trust Advisors LP now owns 5,934,516 shares of the information technology service provider’s stock valued at $526,510,000 after buying an additional 1,979,276 shares during the last quarter. Boston Partners boosted its position in Cognizant Technology Solutions by 26.6% in the 4th quarter. Boston Partners now owns 6,685,153 shares of the information technology service provider’s stock valued at $593,070,000 after buying an additional 1,405,697 shares during the last quarter. Invesco Ltd. boosted its position in Cognizant Technology Solutions by 7.2% in the 4th quarter. Invesco Ltd. now owns 17,072,441 shares of the information technology service provider’s stock valued at $1,514,667,000 after buying an additional 1,139,513 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Cognizant Technology Solutions by 17.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,260,146 shares of the information technology service provider’s stock valued at $377,961,000 after buying an additional 618,660 shares during the last quarter. 90.73% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $68.72 on Friday. The firm has a market cap of $35.58 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $63.26 and a fifty-two week high of $93.47. The company’s 50-day moving average price is $68.76 and its 200 day moving average price is $79.03. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Cognizant Technology Solutions’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.54 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 25.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTSH shares. UBS Group decreased their price objective on shares of Cognizant Technology Solutions from $89.00 to $76.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Barclays cut their target price on shares of Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 19th. Robert W. Baird cut their target price on shares of Cognizant Technology Solutions from $94.00 to $84.00 in a research note on Friday, July 15th. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research note on Thursday, July 28th. Finally, Cowen lowered shares of Cognizant Technology Solutions to a “market perform” rating and cut their target price for the company from $86.00 to $75.00 in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.79.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 5,867 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares in the company, valued at approximately $453,553.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the transaction, the executive vice president now directly owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the transaction, the director now owns 57,534 shares of the company’s stock, valued at $4,280,529.60. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Cognizant Technology Solutions Profile

(Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

Recommended Stories

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating).

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.