Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Purchased by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its stake in Cognizant Technology Solutions by 7.1%, acquiring an additional 4,542 shares, bringing its total holdings to 68,212 shares valued at approximately $5.2 million.
• Cognizant's recent quarterly earnings report showed an earnings per share of $1.23, surpassing analyst estimates, with revenues of $5.12 billion reflecting a 7.5% increase year-over-year.
• Institutional investors now own 92.44% of Cognizant's stock, indicating strong institutional confidence in the company's performance and stability.

Foster & Motley Inc. lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,212 shares of the information technology service provider's stock after acquiring an additional 4,542 shares during the period. Foster & Motley Inc.'s holdings in Cognizant Technology Solutions were worth $5,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth approximately $36,000. CoreCap Advisors LLC lifted its position in Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after buying an additional 126 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in Cognizant Technology Solutions during the fourth quarter worth approximately $55,000. Optiver Holding B.V. purchased a new position in Cognizant Technology Solutions during the fourth quarter worth approximately $66,000. Finally, Golden State Wealth Management LLC lifted its position in Cognizant Technology Solutions by 290.9% during the first 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 in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays reduced their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their target price for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Evercore ISI initiated coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Friday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $85.88.

Cognizant Technology Solutions Stock Down 1.6%

CTSH traded down $1.17 on Friday, hitting $70.59. 5,356,605 shares of the company were exchanged, compared to its average volume of 3,446,974. 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 cap of $34.80 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $78.10 and a two-hundred day moving average price of $78.65.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. On average, equities 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. Stockholders of record on Monday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is currently 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.