Duality Advisers LP Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Duality Advisers LP acquired a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,021 shares of the information technology service provider’s stock, valued at approximately $1,687,000.

Other hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $26,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 193 shares during the period. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $40,000. Quarry LP bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $43,000. Finally, Valley National Advisers Inc. boosted its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTSH shares. Barclays dropped their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Evercore ISI upped their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.44.

Cognizant Technology Solutions Stock Up 2.7 %

NASDAQ CTSH traded up $1.90 during trading on Friday, hitting $72.04. The company’s stock had a trading volume of 2,076,436 shares, compared to its average volume of 4,064,380. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $35.82 billion, a PE ratio of 16.86, a P/E/G ratio of 2.03 and a beta of 1.05. The business’s 50 day simple moving average is $67.38 and its 200-day simple moving average is $71.95. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company earned $1.11 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s payout ratio 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.