Daiwa Securities Group Inc. Has $6.13 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Daiwa Securities Group Inc. grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,071 shares of the information technology service provider’s stock after purchasing an additional 6,703 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cognizant Technology Solutions were worth $6,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter worth $28,000. Spire Wealth Management increased its holdings in Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions during the 4th quarter worth $40,000. Finally, Unique Wealth Strategies LLC acquired a new position in Cognizant Technology Solutions during the 2nd quarter worth about $40,000. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $76.30 on Thursday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $74.33 and a two-hundred day simple moving average of $71.51. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The firm has a market capitalization of $37.94 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Royal Bank of Canada raised their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Mizuho reissued a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Finally, Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.44.

Cognizant Technology Solutions 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.