First Capital Advisors Group LLC. Boosts Position in Cognizant Technology Solutions Corporation (CTSH)

First Capital Advisors Group LLC. raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 3,676 shares of the information technology service provider’s stock after buying an additional 32 shares during the period. First Capital Advisors Group LLC.’s holdings in Cognizant Technology Solutions Corporation were worth $244,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised its position in Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares during the period. Assetmark Inc. raised its position in Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc raised its position in Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock valued at $160,000 after buying an additional 781 shares during the period. Acadian Asset Management LLC raised its position in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Cognizant Technology Solutions Corporation during the first quarter valued at approximately $192,000. Institutional investors and hedge funds own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.01 on Friday. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.57. The firm’s 50-day moving average is $68.58 and its 200-day moving average is $62.57. The stock has a market cap of $41.35 billion, a P/E ratio of 22.46 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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Several equities analysts have commented on CTSH shares. Credit Suisse Group set a $70.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Cantor Fitzgerald reiterated a “buy” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price objective for the company. in a research report on Monday, May 1st. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $70.02.

In other Cognizant Technology Solutions Corporation news, Director Maureen Breakiron-Evans sold 12,368 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $69.70, for a total transaction of $862,049.60. Following the sale, the director now directly owns 1,075 shares in the company, valued at $74,927.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total transaction of $282,806.16. Following the sale, the executive vice president now owns 442 shares in the company, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold 77,528 shares of company stock worth $5,306,449 over the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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