Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,275,786 shares of the information technology service provider’s stock after purchasing an additional 18,861 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cognizant Technology Solutions were worth $97,601,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL increased its stake in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares during the period. Duality Advisers LP purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth about $1,687,000. Norden Group LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at about $233,000. Van ECK Associates Corp grew its stake in Cognizant Technology Solutions by 15.4% during the 1st quarter. Van ECK Associates Corp now owns 147,345 shares of the information technology service provider’s stock valued at $10,799,000 after purchasing an additional 19,690 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Cognizant Technology Solutions by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after purchasing an additional 53,061 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $74.82 on Monday. The company has a 50-day moving average price of $76.50 and a two-hundred day moving average price of $71.83. The stock has a market cap of $37.20 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth 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 52 week low of $62.14 and a 52 week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS 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 for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm earned $1.10 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

Several research firms have recently commented on CTSH. Robert W. Baird increased their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $77.58.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

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.