RBA Wealth Management LLC Buys 1,717 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

RBA Wealth Management LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,997 shares of the information technology service provider’s stock after acquiring an additional 1,717 shares during the quarter. RBA Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $4,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTSH. Ballentine Partners LLC boosted its position in shares of Cognizant Technology Solutions by 17.2% in the 1st quarter. Ballentine Partners LLC now owns 4,720 shares of the information technology service provider’s stock worth $346,000 after purchasing an additional 691 shares in the last quarter. Riverview Trust Co acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth about $71,000. ARGA Investment Management LP lifted its position in Cognizant Technology Solutions by 14.4% during the 1st quarter. ARGA Investment Management LP now owns 28,865 shares of the information technology service provider’s stock worth $2,116,000 after acquiring an additional 3,642 shares during the period. Atlas Capital Advisors LLC lifted its position in Cognizant Technology Solutions by 5.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 9,632 shares of the information technology service provider’s stock worth $706,000 after acquiring an additional 521 shares during the period. Finally, DGS Capital Management LLC raised its stake in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. DGS Capital Management LLC now owns 7,672 shares of the information technology service provider’s stock valued at $562,000 after buying an additional 918 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Robert W. Baird lifted their price target 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. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $77.58.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded down $0.90 on Tuesday, hitting $75.97. 900,446 shares of the company were exchanged, compared to its average volume of 3,805,742. The stock has a market capitalization of $37.77 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a 50-day moving average price of $76.46 and a 200 day moving average price of $71.71. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a quick ratio of 2.46, 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 data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’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 value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This 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 currently owned by insiders.

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.