Foster & Motley Inc. Purchases 5,396 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Foster & Motley Inc. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 54,245 shares of the information technology service provider’s stock after purchasing an additional 5,396 shares during the period. Foster & Motley Inc.’s holdings in Cognizant Technology Solutions were worth $3,689,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth about $25,000. LRI Investments LLC acquired a new stake in Cognizant Technology Solutions during the first quarter worth approximately $28,000. Spire Wealth Management boosted its holdings in shares of Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $40,000. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Cognizant Technology Solutions in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

CTSH has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $76.61.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $0.40 on Thursday, reaching $76.92. The company had a trading volume of 1,091,438 shares, compared to its average volume of 4,005,346. The stock has a market capitalization of $38.13 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average is $73.50 and its 200 day moving average is $71.57. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

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.