SVA Plumb Wealth Management LLC Invests $305,000 in Cognizant Technology Solutions Corp (CTSH)

SVA Plumb Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,954 shares of the information technology service provider’s stock, valued at approximately $305,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Willingdon Wealth Management acquired a new position in Cognizant Technology Solutions during the third quarter worth about $120,000. Fort L.P. acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth approximately $123,000. Johnson Financial Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 2,434.4% in the 3rd quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock worth $125,000 after acquiring an additional 1,558 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $146,000. Finally, San Francisco Sentry Investment Group CA increased its stake in Cognizant Technology Solutions by 170.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after buying an additional 1,202 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Shares of CTSH traded up $0.15 during trading hours on Friday, reaching $70.45. The company had a trading volume of 263,667 shares, compared to its average volume of 3,614,265. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $40.97 billion, a PE ratio of 19.96, a P/E/G ratio of 1.45 and a beta of 0.96. Cognizant Technology Solutions Corp has a 12-month low of $65.14 and a 12-month high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. On average, research analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.

In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 2,881 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $75.17, for a total transaction of $216,564.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Middleton sold 439 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total transaction of $33,486.92. Following the transaction, the insider now owns 5,135 shares of the company’s stock, valued at $391,697.80. The disclosure for this sale can be found here. Insiders sold a total of 12,773 shares of company stock valued at $929,282 in the last quarter. Insiders own 0.60% of the company’s stock.

A number of brokerages have commented on CTSH. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. KeyCorp decreased their price target on shares of Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, August 3rd. Cowen reiterated a “buy” rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Finally, Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions currently has a consensus rating of “Buy” and a consensus target price of $82.71.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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