GAMMA Investing LLC Purchases 1,235 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

GAMMA Investing LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,057 shares of the information technology service provider’s stock after buying an additional 1,235 shares during the period. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Addison Advisors LLC boosted its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $30,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. grew its position in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the period. Finally, Eastern Bank purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $76.38 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.46. The company has a market capitalization of $37.87 billion, a P/E ratio of 16.90, a PEG ratio of 2.24 and a beta of 1.06. The stock has a 50 day moving average price of $78.93 and a two-hundred day moving average price of $75.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CTSH shares. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, December 31st. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $95.00 in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.35.

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.