Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 15.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,345 shares of the information technology service provider’s stock after purchasing an additional 19,690 shares during the period. Van ECK Associates Corp’s holdings in Cognizant Technology Solutions were worth $10,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in Cognizant Technology Solutions by 14.9% during the 3rd quarter. LPL Financial LLC now owns 126,168 shares of the information technology service provider’s stock worth $8,547,000 after buying an additional 16,400 shares during the period. Teza Capital Management LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at about $356,000. Gotham Asset Management LLC lifted its stake in shares of Cognizant Technology Solutions by 3.1% in the 3rd quarter. Gotham Asset Management LLC now owns 6,598 shares of the information technology service provider’s stock worth $447,000 after acquiring an additional 197 shares during the period. Ameriprise Financial Inc. lifted its position in Cognizant Technology Solutions by 15.4% in the third quarter. Ameriprise Financial Inc. now owns 661,426 shares of the information technology service provider’s stock worth $44,805,000 after purchasing an additional 88,223 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Cognizant Technology Solutions by 4.6% during the third quarter. Evergreen Capital Management LLC now owns 5,514 shares of the information technology service provider’s stock valued at $374,000 after buying an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $0.19 during midday trading on Friday, hitting $68.11. The company’s stock had a trading volume of 638,889 shares, compared to its average volume of 4,087,621. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09. The stock has a fifty day moving average price of $67.18 and a 200 day moving average price of $72.18. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.04 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. On average, research analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

Several analysts have recently commented on CTSH shares. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Mizuho reaffirmed a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $75.44.

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.