First Trust Direct Indexing L.P. Has $1.51 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

First Trust Direct Indexing L.P. boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 19.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,571 shares of the information technology service provider’s stock after buying an additional 3,139 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Cognizant Technology Solutions were worth $1,510,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. grew its stake in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares in the last quarter. Choate Investment Advisors boosted its stake in shares of Cognizant Technology Solutions by 0.4% during the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after acquiring an additional 180 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Cognizant Technology Solutions by 1.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after acquiring an additional 194 shares during the period. Finally, First Personal Financial Services boosted its stake in shares of Cognizant Technology Solutions by 0.6% during the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CTSH has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.60.

Cognizant Technology Solutions Trading Up 0.3 %

Shares of CTSH stock opened at $74.59 on Friday. The firm has a market capitalization of $36.97 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $76.40 and its 200 day simple moving average is $71.94.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

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.