Machina Capital S.A.S. Has $815,000 Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Machina Capital S.A.S. increased its stake in Cognizant Technology Solutions by 71.8%, owning 10,656 shares worth approximately $815,000 as of its latest SEC filing.
• Wall Street analysts have a consensus rating of "Hold" for Cognizant, with a target price averaging $86.18, while several firms have recently upgraded their ratings.
• Cognizant's quarterly earnings report showed an EPS of $1.23 and revenue of $5.12 billion, exceeding analyst estimates and marking a 7.5% year-over-year revenue increase.

Machina Capital S.A.S. lifted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 71.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,656 shares of the information technology service provider's stock after purchasing an additional 4,455 shares during the quarter. Machina Capital S.A.S.'s holdings in Cognizant Technology Solutions were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of recent research reports. Evercore ISI initiated coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They set an "outperform" rating and a $100.00 price target for the company. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their price target for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Barclays lowered their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Friday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $86.18.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.56 during midday trading on Monday, reaching $76.11. The company's stock had a trading volume of 597,141 shares, compared to its average volume of 3,712,079. The stock has a market cap of $37.52 billion, a P/E ratio of 16.00, a PEG ratio of 1.77 and a beta of 0.96. The company has a fifty day simple moving average of $78.64 and a 200 day simple moving average of $78.74. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. Research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's payout ratio is presently 26.11%.

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.