Wealth Enhancement Advisory Services LLC Buys 1,650 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Wealth Enhancement Advisory Services LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,420 shares of the information technology service provider’s stock after acquiring an additional 1,650 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cognizant Technology Solutions were worth $3,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Cognizant Technology Solutions by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $406,360,000. JPMorgan Chase & Co. raised its holdings in Cognizant Technology Solutions by 32.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after acquiring an additional 4,365,493 shares during the period. Cibc World Markets Corp boosted its holdings in shares of Cognizant Technology Solutions by 1,861.7% during the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after acquiring an additional 1,600,621 shares during the period. Finally, KBC Group NV grew its position in shares of Cognizant Technology Solutions by 2,083.8% in the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after purchasing an additional 1,357,755 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the subject of several recent research reports. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. Mizuho reiterated a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Evercore ISI raised their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a research note on Monday, June 24th. They issued a “neutral” rating and a $72.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.44.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $68.30 on Thursday. The company’s 50 day moving average price is $67.14 and its two-hundred day moving average price is $72.24. The firm has a market capitalization of $33.96 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.03 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

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.