Honkamp Krueger Financial Services Inc. Takes Position in Cognizant Technology Solutions Corp (CTSH)

Honkamp Krueger Financial Services Inc. acquired a new stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,733 shares of the information technology service provider’s stock, valued at approximately $134,000.

A number of other institutional investors have also recently made changes to their positions in CTSH. Cornerstone Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the 2nd quarter valued at $365,000. State of New Jersey Common Pension Fund D raised its holdings in Cognizant Technology Solutions by 69.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 92,400 shares of the information technology service provider’s stock valued at $7,299,000 after acquiring an additional 37,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Cognizant Technology Solutions by 22.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 49,045 shares of the information technology service provider’s stock valued at $3,874,000 after acquiring an additional 8,914 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Cognizant Technology Solutions by 20.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 60,770 shares of the information technology service provider’s stock valued at $4,800,000 after acquiring an additional 10,497 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Cognizant Technology Solutions by 10.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 35,254 shares of the information technology service provider’s stock valued at $2,785,000 after acquiring an additional 3,235 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

Shares of NASDAQ CTSH opened at $71.23 on Monday. Cognizant Technology Solutions Corp has a 52-week low of $65.14 and a 52-week high of $85.10. The firm has a market cap of $41.24 billion, a PE ratio of 20.18, a P/E/G ratio of 1.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company earned $0.98 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, November 19th. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.

In related news, insider Gajakarnan Vibushanan Kandiah sold 665 shares of the company’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $77.60, for a total transaction of $51,604.00. Following the completion of the sale, the insider now directly owns 14,683 shares of the company’s stock, valued at approximately $1,139,400.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Middleton sold 439 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total transaction of $33,486.92. Following the sale, the insider now directly owns 5,135 shares of the company’s stock, valued at $391,697.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,773 shares of company stock valued at $929,282 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Several brokerages have weighed in on CTSH. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. BMO Capital Markets reiterated a “hold” rating and issued a $75.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, November 20th. Cowen downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price target for the company. in a report on Sunday. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a report on Tuesday, November 20th. They issued a “hold” rating and a $70.00 price target for the company. Finally, Moffett Nathanson began coverage on Cognizant Technology Solutions in a report on Thursday, October 4th. They issued a “neutral” rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $82.34.

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Cognizant Technology Solutions Profile

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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