CCM Investment Group LLC Acquires Shares of 35,417 Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• CCM Investment Group LLC has acquired 35,417 shares of Cognizant Technology Solutions Corporation, valued at approximately $2.69 million, as reported in their recent SEC filing.
• Cognizant reported earnings per share (EPS) of $1.31 for its last quarter, exceeding the consensus estimate of $1.26, with revenues of $5.25 billion showing an 8.1% annual increase.
• The company announced a quarterly dividend of $0.31 per share, representing an annual yield of 1.8%, set to be paid on August 26th.

CCM Investment Group LLC purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,417 shares of the information technology service provider's stock, valued at approximately $2,688,000.

Several other institutional investors have also modified their holdings of CTSH. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. CoreCap Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 21.5% during the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after acquiring an additional 126 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $55,000. Optiver Holding B.V. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $66,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $69.58 on Friday. The stock's 50-day moving average is $76.92 and its 200-day moving average is $78.33. The company has a market cap of $34.30 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. 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 12 month low of $65.52 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share 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. Shareholders of record on Monday, August 18th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 25.20%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. TD Securities lifted 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. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research report on Friday, July 18th. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Thirteen research 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, the company presently has an average rating of "Hold" and a consensus target price of $86.56.

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.

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