Leo Wealth LLC Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Leo Wealth LLC lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,525 shares of the information technology service provider’s stock after purchasing an additional 1,955 shares during the quarter. Leo Wealth LLC’s holdings in Cognizant Technology Solutions were worth $1,044,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after buying an additional 3,000,996 shares during the period. Pzena Investment Management LLC lifted its position in Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Bank of Montreal Can boosted its holdings in Cognizant Technology Solutions by 152.8% in the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after acquiring an additional 1,281,236 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday. Robert W. Baird increased their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.58.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $0.95 during mid-day trading on Tuesday, hitting $75.92. The company had a trading volume of 750,288 shares, compared to its average volume of 3,804,873. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market cap of $37.75 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The firm’s 50 day simple moving average is $76.46 and its two-hundred day simple moving average is $71.71.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business posted $1.10 EPS. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio (DPR) 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.