Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,762 shares of the information technology service provider’s stock after purchasing an additional 639 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cognizant Technology Solutions were worth $745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wagner Wealth Management LLC bought a new stake in Cognizant Technology Solutions in the first quarter worth $25,000. Strategic Blueprint LLC bought a new stake in Cognizant Technology Solutions in the second quarter worth $29,000. Berman Capital Advisors LLC boosted its stake in Cognizant Technology Solutions by 322.3% during the first quarter. Berman Capital Advisors LLC now owns 473 shares of the information technology service provider’s stock worth $36,000 after buying an additional 361 shares during the period. Evoke Wealth LLC boosted its stake in Cognizant Technology Solutions by 98.6% during the first quarter. Evoke Wealth LLC now owns 554 shares of the information technology service provider’s stock worth $43,000 after buying an additional 275 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Cognizant Technology Solutions during the first quarter worth $49,000. Institutional investors own 89.04% of the company’s stock.
Several research firms have commented on CTSH. Societe Generale raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Thursday, July 29th. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $90.00 in a research note on Thursday, July 22nd. Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Thursday, July 29th. Susquehanna Bancshares dropped their price objective on shares of Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating for the company in a research note on Wednesday, June 30th. Finally, Susquehanna lowered their target price on shares of Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating for the company in a research note on Wednesday, June 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $83.13.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, July 27th. The information technology service provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.03. Cognizant Technology Solutions had a net margin of 9.65% and a return on equity of 17.41%. The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.45 billion. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 20th were issued a $0.24 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.07%.
In other Cognizant Technology Solutions news, EVP Becky Schmitt sold 2,888 shares of the business’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $69.43, for a total value of $200,513.84. Following the completion of the transaction, the executive vice president now directly owns 18,222 shares in the company, valued at $1,265,153.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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