Dynasty Wealth Management LLC Makes New $680,000 Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dynasty Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,275 shares of the information technology service provider’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Cognizant Technology Solutions by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after buying an additional 7,445,089 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after acquiring an additional 38,526 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Cognizant Technology Solutions by 16.8% in the fourth quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after acquiring an additional 508 shares during the period. Blair William & Co. IL raised its stake in shares of Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after purchasing an additional 412 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $1,786,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH traded down $0.58 during midday trading on Wednesday, reaching $75.24. 1,115,151 shares of the company traded hands, compared to its average volume of 4,117,218. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.09. The company has a fifty day moving average price of $68.95 and a 200 day moving average price of $71.85. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the business earned $1.11 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTSH shares. Susquehanna cut their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a research note on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective on the stock. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Mizuho restated a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.75.

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.