Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Purchased by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc has increased its stake in Cognizant Technology Solutions by 6.4%, now owning 71,494 shares valued at approximately $5.47 million.
• Cognizant's recent quarterly earnings exceeded expectations, reporting $1.31 per share against an estimate of $1.26, with revenue rising 8.1% year-over-year.
• The company has announced a quarterly dividend of $0.31 per share, representing an annual yield of 1.8% and a payout ratio of 25.20%.

Berger Financial Group Inc raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,494 shares of the information technology service provider's stock after buying an additional 4,286 shares during the period. Berger Financial Group Inc's holdings in Cognizant Technology Solutions were worth $5,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Cognizant Technology Solutions by 117.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after buying an additional 3,677,145 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Cognizant Technology Solutions by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock worth $461,439,000 after buying an additional 392,429 shares during the period. Northern Trust Corp boosted its position in shares of Cognizant Technology Solutions by 16.2% during the fourth quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock worth $458,340,000 after buying an additional 831,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cognizant Technology Solutions by 7.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,373,164 shares of the information technology service provider's stock worth $336,296,000 after buying an additional 309,919 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cognizant Technology Solutions by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,394,114 shares of the information technology service provider's stock worth $259,650,000 after buying an additional 46,012 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective on the stock. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective on the stock. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded up $0.46 during midday trading on Friday, reaching $69.58. 2,770,882 shares of the stock were exchanged, compared to its average volume of 4,211,431. The business's 50-day moving average price is $76.92 and its 200 day moving average price is $78.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The company has a market capitalization of $33.98 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.45 and a beta of 0.90.

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 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's payout ratio is 25.20%.

Cognizant Technology Solutions Company 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.