Cognizant Technology Solutions Corporation (CTSH) Stake Held by Capital Wealth Planning LLC

Capital Wealth Planning LLC continued to hold its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the first quarter, Holdings Channel reports. The institutional investor owned 21,000 shares of the information technology service provider’s stock at the end of the first quarter. Cognizant Technology Solutions Corporation accounts for 1.1% of Capital Wealth Planning LLC’s holdings, making the stock its 17th largest position. Capital Wealth Planning LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTSH. Assetmark Inc. raised its position in shares of Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 505 shares in the last quarter. IFP Advisors Inc raised its position in shares of Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock valued at $160,000 after buying an additional 781 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $192,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at about $207,000. 91.09% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 66.59 on Friday. The firm’s 50-day moving average price is $65.11 and its 200-day moving average price is $59.30. The stock has a market cap of $39.22 billion, a P/E ratio of 24.22 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $67.88.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 23rd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, May 18th. Cognizant Technology Solutions Corporation’s payout ratio is 21.90%.

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Several brokerages recently issued reports on CTSH. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, February 22nd. Morgan Stanley upped their target price on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Vetr raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 price objective on the stock in a report on Friday, April 14th. Credit Suisse Group set a $70.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Saturday, May 6th. Finally, Pacific Crest reissued an “overweight” rating and issued a $75.00 price objective (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and an average target price of $65.53.

In other Cognizant Technology Solutions Corporation news, insider Sean Middleton sold 1,890 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the transaction, the insider now owns 5,888 shares in the company, valued at approximately $353,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $67.75, for a total value of $271,000.00. Following the transaction, the insider now owns 13,188 shares in the company, valued at approximately $893,487. The disclosure for this sale can be found here. Insiders have sold a total of 50,712 shares of company stock worth $3,306,626 in the last quarter. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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