Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Leo Wealth LLC

Leo Wealth LLC raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,525 shares of the information technology service provider’s stock after acquiring an additional 1,955 shares during the period. Leo Wealth LLC’s holdings in Cognizant Technology Solutions were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares in the last quarter. Choate Investment Advisors boosted its holdings in shares of Cognizant Technology Solutions by 0.4% in the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after buying an additional 180 shares during the period. V Square Quantitative Management LLC increased its position in shares of Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after acquiring an additional 194 shares in the last quarter. Finally, First Personal Financial Services raised its holdings in shares of Cognizant Technology Solutions by 0.6% during the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTSH shares. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective for the company. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird upped their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.58.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.95 during trading on Tuesday, hitting $75.92. The stock had a trading volume of 750,288 shares, compared to its average volume of 3,804,873. The firm has a market cap of $37.75 billion, a PE ratio of 18.26, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The company has a 50 day simple moving average of $76.46 and a 200-day simple moving average of $71.71.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

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.