Denali Advisors LLC Boosts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Denali Advisors LLC increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 107.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,715 shares of the information technology service provider’s stock after acquiring an additional 4,504 shares during the period. Denali Advisors LLC’s holdings in Cognizant Technology Solutions were worth $593,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Unison Advisors LLC increased its position in shares of Cognizant Technology Solutions by 0.6% during the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after purchasing an additional 172 shares during the last quarter. Choate Investment Advisors grew its position in Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after acquiring an additional 180 shares during the last quarter. Lederer & Associates Investment Counsel CA raised its stake in shares of Cognizant Technology Solutions by 1.5% during the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock worth $947,000 after acquiring an additional 190 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after acquiring an additional 195 shares during the last quarter. Finally, Delta Financial Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 1.0% in the 1st quarter. Delta Financial Advisors LLC now owns 19,506 shares of the information technology service provider’s stock valued at $1,430,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 2.1 %

Shares of NASDAQ:CTSH opened at $76.22 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $75.06 and a two-hundred day simple moving average of $71.40. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.14 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, topping 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 analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

Several research firms have weighed in on CTSH. Barclays boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $77.44.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions 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.