Cetera Investment Advisers Grows Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Cetera Investment Advisers increased its stake in Cognizant Technology Solutions by 38.5%, holding 42,058 shares valued at $3.2 million as of the end of the first quarter.
• Cognizant reported $1.31 EPS for the recent quarter, exceeding analyst expectations of $1.26, alongside a revenue increase of 8.1% year-over-year.
• The company declared a quarterly dividend of $0.31 per share, with an annual yield of 1.8%, reflecting a payout ratio of 25.20%.

Cetera Investment Advisers grew its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,058 shares of the information technology service provider's stock after acquiring an additional 11,694 shares during the period. Cetera Investment Advisers' holdings in Cognizant Technology Solutions were worth $3,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Ritholtz Wealth Management boosted its holdings in shares of Cognizant Technology Solutions by 21.0% in the first quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock valued at $806,000 after acquiring an additional 1,827 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Cognizant Technology Solutions by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after acquiring an additional 7,105 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Cognizant Technology Solutions by 40.7% in the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after acquiring an additional 8,116 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 290.9% during the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock worth $69,000 after buying an additional 669 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Cognizant Technology Solutions by 14.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,814 shares of the information technology service provider's stock valued at $368,000 after purchasing an additional 591 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 1.9%

NASDAQ CTSH opened at $69.90 on Wednesday. The stock's 50-day moving average price is $77.56 and its 200-day moving average price is $78.51. 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 52 week low of $65.52 and a 52 week high of $90.82. The company has a market capitalization of $34.46 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its 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. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's payout ratio is presently 25.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Securities increased their price objective on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their price objective for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $85.88.

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.

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