Aigen Investment Management LP Takes Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Aigen Investment Management LP has acquired a new position in Cognizant Technology Solutions, purchasing 8,534 shares valued at approximately $653,000 during the first quarter.
• Cognizant reported earnings per share (EPS) of $1.31 for Q2, exceeding expectations and showing an 8.1% increase in revenue compared to the same period last year.
• The company's quarterly dividend of $0.31 per share will be paid on August 26th, with a yield of 1.8%.

Aigen Investment Management LP purchased a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,534 shares of the information technology service provider's stock, valued at approximately $653,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at $214,000. Raymond James Financial Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $27,114,000. Sterling Capital Management LLC raised its stake in shares of Cognizant Technology Solutions by 55.3% in the fourth quarter. Sterling Capital Management LLC now owns 29,698 shares of the information technology service provider's stock valued at $2,284,000 after acquiring an additional 10,575 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Cognizant Technology Solutions by 10.3% in the 4th quarter. Townsquare Capital LLC now owns 22,840 shares of the information technology service provider's stock valued at $1,756,000 after buying an additional 2,139 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $313,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTSH has been the subject of several analyst reports. TD Securities upped their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Evercore ISI began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays decreased their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Trading Down 1.5%

Shares of NASDAQ:CTSH traded down $1.05 during midday trading on Thursday, reaching $69.37. The company's stock had a trading volume of 2,885,706 shares, compared to its average volume of 3,873,429. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 1 year low of $65.52 and a 1 year high of $90.82. The business has a 50 day moving average price of $76.28 and a 200 day moving average price of $78.13.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The business's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's payout ratio is presently 25.20%.

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.