Amalgamated Bank Purchases 5,239 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Amalgamated Bank boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 139,892 shares of the information technology service provider’s stock after purchasing an additional 5,239 shares during the quarter. Amalgamated Bank’s holdings in Cognizant Technology Solutions were worth $10,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CTSH. Vision Capital Management Inc. raised its stake in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after buying an additional 144 shares during the last quarter. Nilsine Partners LLC raised its position in shares of Cognizant Technology Solutions by 4.3% during the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after acquiring an additional 156 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the period. Sound View Wealth Advisors Group LLC boosted its position in shares of Cognizant Technology Solutions by 5.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock worth $220,000 after purchasing an additional 165 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 0.0 %

CTSH stock traded down $0.02 during midday trading on Friday, hitting $66.25. The company’s stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The company’s fifty day moving average price is $72.58 and its 200 day moving average price is $72.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.25. Cognizant Technology Solutions Co. has a twelve month low of $60.26 and a twelve month high of $80.09. The stock has a market capitalization of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTSH shares. Wedbush restated an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday. Barclays reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered 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 note on Thursday. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.63.

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.