13,301 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,301 shares of the information technology service provider’s stock, valued at approximately $904,000.

A number of other large investors also recently bought and sold shares of CTSH. Vanguard Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 17.0% in the fourth 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 acquiring an additional 7,445,089 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after buying an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares during the period. Cibc World Markets Corp boosted its stake in shares of Cognizant Technology Solutions by 1,861.7% in the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after buying an additional 1,600,621 shares in the last quarter. Finally, KBC Group NV grew its holdings in Cognizant Technology Solutions by 2,083.8% during the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock worth $107,473,000 after acquiring an additional 1,357,755 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $75.64 on Friday. The company has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $71.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market cap of $37.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company earned $1.10 EPS. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $77.44.

Insider Buying and Selling at Cognizant Technology Solutions

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

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.