BDF Gestion Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

BDF Gestion purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 47,054 shares of the information technology service provider’s stock, valued at approximately $3,200,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 6,933,908 shares during the period. Boston Partners grew its holdings in Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cognizant Technology Solutions by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after purchasing an additional 238,551 shares in the last quarter. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at $406,360,000. Finally, National Bank of Canada FI grew its holdings in Cognizant Technology Solutions by 9.2% during the 4th quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock worth $354,822,000 after acquiring an additional 401,076 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTSH shares. Barclays boosted their price target 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. BMO Capital Markets lowered their price target on 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. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They issued a “neutral” rating and a $72.00 price target for the company. Finally, Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.06.

Cognizant Technology Solutions Stock Up 0.9 %

Shares of CTSH traded up $0.69 during trading hours on Friday, hitting $74.42. 7,783,353 shares of the company were exchanged, compared to its average volume of 4,174,245. The firm’s 50 day moving average is $69.86 and its 200-day moving average is $71.79. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a market cap of $37.00 billion, a PE ratio of 17.89, a PEG ratio of 2.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast 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. Stockholders of record on Tuesday, August 20th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the 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 completion of 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 legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

About Cognizant Technology Solutions

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.