MBB Public Markets I LLC Has $2.32 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

MBB Public Markets I LLC increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 875.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,093 shares of the information technology service provider’s stock after purchasing an additional 30,599 shares during the period. MBB Public Markets I LLC’s holdings in Cognizant Technology Solutions were worth $2,318,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. APG Asset Management N.V. increased its stake in shares of Cognizant Technology Solutions by 5.8% in the 2nd quarter. APG Asset Management N.V. now owns 955,275 shares of the information technology service provider’s stock valued at $60,610,000 after acquiring an additional 52,722 shares in the last quarter. AQR Capital Management LLC increased its stake in Cognizant Technology Solutions by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,005,775 shares of the information technology service provider’s stock valued at $68,393,000 after purchasing an additional 47,005 shares in the last quarter. AXA S.A. raised its holdings in shares of Cognizant Technology Solutions by 27.4% during the second quarter. AXA S.A. now owns 1,152,320 shares of the information technology service provider’s stock valued at $78,358,000 after purchasing an additional 247,549 shares during the period. Trinity Legacy Partners LLC bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth about $3,587,000. Finally, Toronto Dominion Bank grew its stake in shares of Cognizant Technology Solutions by 138.8% in the 2nd quarter. Toronto Dominion Bank now owns 778,004 shares of the information technology service provider’s stock valued at $52,904,000 after buying an additional 452,201 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at approximately $3,419,812.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CTSH shares. Royal Bank of Canada increased their price target on 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 restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $77.44.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $76.89 on Friday. The company has a market capitalization of $38.23 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company’s 50-day moving average is $75.61 and its 200 day moving average is $71.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. On average, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 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, August 28th. Shareholders of record on Tuesday, August 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

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.