BerganKDV Wealth Management LLC Increases Position in Cognizant Technology Solutions Corp (CTSH)

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BerganKDV Wealth Management LLC lifted its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 7.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 17,559 shares of the information technology service provider’s stock after purchasing an additional 1,181 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $1,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTSH. Lenox Wealth Management Inc. increased its stake in Cognizant Technology Solutions by 15.0% in the 1st quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after purchasing an additional 144 shares during the period. Plimoth Trust Co. LLC increased its stake in Cognizant Technology Solutions by 0.6% in the 4th quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock worth $1,529,000 after purchasing an additional 145 shares during the period. Segall Bryant & Hamill LLC increased its stake in Cognizant Technology Solutions by 1.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock worth $751,000 after purchasing an additional 152 shares during the period. Van ECK Associates Corp increased its stake in Cognizant Technology Solutions by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock worth $510,000 after purchasing an additional 155 shares during the period. Finally, Kaizen Advisory LLC increased its stake in Cognizant Technology Solutions by 11.7% in the 4th quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock worth $101,000 after purchasing an additional 167 shares during the period. 88.24% of the stock is currently owned by institutional investors.

Shares of CTSH stock opened at $61.87 on Friday. The company has a market capitalization of $34.73 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.90 and a current ratio of 2.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.

In related news, EVP Allen Shaheen sold 396 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $73.80, for a total transaction of $29,224.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Venkat Krishnaswamy sold 3,014 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $71.75, for a total value of $216,254.50. Following the sale, the insider now owns 8,770 shares in the company, valued at $629,247.50. The disclosure for this sale can be found here. Insiders have sold 47,820 shares of company stock worth $3,402,075 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on CTSH shares. Zacks Investment Research cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. KeyCorp lifted their price target on Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, February 7th. Goldman Sachs Group cut Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $84.00 to $64.00 in a research note on Friday, May 3rd. Oppenheimer cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Finally, Sanford C. Bernstein raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, January 25th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $75.55.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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