GAMMA Investing LLC Has $407,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

GAMMA Investing LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 35.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,989 shares of the information technology service provider’s stock after buying an additional 1,581 shares during the quarter. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock worth $39,242,000 after acquiring an additional 38,526 shares during the period. Merit Financial Group LLC lifted its holdings in shares of Cognizant Technology Solutions by 16.8% in the fourth quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock worth $266,000 after buying an additional 508 shares in the last quarter. Blair William & Co. IL lifted its position in Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after purchasing an additional 412 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $1,786,000. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. BMO Capital Markets decreased their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Barclays upped their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $76.12.

Cognizant Technology Solutions Trading Down 3.0 %

Shares of NASDAQ CTSH traded down $2.31 during trading hours on Friday, reaching $74.00. The stock had a trading volume of 4,043,723 shares, compared to its average volume of 4,397,573. The business’s fifty day moving average price is $69.35 and its two-hundred day moving average price is $71.82. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $36.79 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly 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 return on equity of 17.31% and a net margin of 11.39%. 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 business earned $1.10 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions Co. will post 4.65 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. Cognizant Technology Solutions’s dividend 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.