Tempus Wealth Planning LLC Purchases 332 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tempus Wealth Planning LLC lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,831 shares of the information technology service provider’s stock after acquiring an additional 332 shares during the period. Tempus Wealth Planning LLC’s holdings in Cognizant Technology Solutions were worth $328,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CTSH. Capital Insight Partners LLC raised its position in Cognizant Technology Solutions by 2.5% in the 2nd quarter. Capital Insight Partners LLC now owns 8,446 shares of the information technology service provider’s stock worth $574,000 after purchasing an additional 210 shares during the period. Advisory Resource Group grew its stake in shares of Cognizant Technology Solutions by 23.2% during the second quarter. Advisory Resource Group now owns 62,771 shares of the information technology service provider’s stock valued at $4,268,000 after buying an additional 11,825 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Cognizant Technology Solutions in the second quarter worth approximately $47,000. Unique Wealth Strategies LLC bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $40,000. Finally, &PARTNERS purchased a new position in Cognizant Technology Solutions during the 2nd quarter valued at $269,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 0.5 %

Shares of NASDAQ CTSH traded up $0.41 during mid-day trading on Friday, reaching $76.68. 1,719,600 shares of the company were exchanged, compared to its average volume of 4,061,879. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The firm has a 50-day moving average of $71.94 and a 200 day moving average of $71.57. The stock has a market cap of $38.13 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.26 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly 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 net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.06.

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.