OneAscent Financial Services LLC Increases Stock Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

OneAscent Financial Services LLC lifted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 116.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,868 shares of the information technology service provider's stock after acquiring an additional 3,697 shares during the period. OneAscent Financial Services LLC's holdings in Cognizant Technology Solutions were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTSH. Park Square Financial Group LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. CoreCap Advisors LLC increased its position in 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 purchasing an additional 126 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $55,000. Loomis Sayles & Co. L P acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $56,000. Finally, Optiver Holding B.V. acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $66,000. Institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CTSH. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and upped their price target for the company from $88.00 to $98.00 in a research report on Monday, May 19th. Royal Bank Of Canada restated a "sector perform" rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price objective for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $86.18.

Cognizant Technology Solutions Stock Up 1.8%

Shares of Cognizant Technology Solutions stock traded up $1.38 during trading hours on Tuesday, reaching $76.80. The company's stock had a trading volume of 2,738,821 shares, compared to its average volume of 3,519,914. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company has a market capitalization of $37.86 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.75 and a beta of 0.96. The stock's fifty day simple moving average is $79.11 and its two-hundred day simple moving average is $78.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm earned $1.12 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.61%. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

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.