25,222 Shares in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Acquired by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has acquired a new position in Cognizant Technology Solutions Corporation by purchasing 25,222 shares valued at approximately $1.93 million.
• Cognizant reported quarterly earnings of $1.31 per share, exceeding analysts' expectations and showing an 8.1% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.31 per share, reflecting a dividend yield of 1.8%, with the payout date set for August 26th.

Koss Olinger Consulting LLC acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,222 shares of the information technology service provider's stock, valued at approximately $1,929,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock valued at $520,651,000 after purchasing an additional 3,677,145 shares during the period. Dimensional Fund Advisors LP increased its position in Cognizant Technology Solutions by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock valued at $461,439,000 after purchasing an additional 392,429 shares during the period. Northern Trust Corp increased its position in Cognizant Technology Solutions by 16.2% during the 4th quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock valued at $458,340,000 after purchasing an additional 831,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cognizant Technology Solutions by 7.6% during the 4th 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. grew its position in shares of Cognizant Technology Solutions by 1.4% during the 1st 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. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH traded up $0.46 during trading hours on Friday, reaching $69.58. The company's stock had a trading volume of 2,770,882 shares, compared to its average volume of 4,211,431. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.45 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The company's 50-day moving average is $76.92 and its two-hundred day moving average is $78.32.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the prior 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, equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of recent research reports. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their target price for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. 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 report on Friday, April 25th. 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 target for the company. Finally, Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Thirteen 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 company currently 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.