Bowling Portfolio Management LLC Takes $935,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bowling Portfolio Management LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,423 shares of the information technology service provider’s stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTSH. MV Capital Management Inc. boosted its position in shares of Cognizant Technology Solutions by 94.8% in the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock valued at $27,000 after acquiring an additional 147 shares during the period. Cornerstone Advisory LLC bought a new position in Cognizant Technology Solutions in the fourth quarter worth $27,000. Fieldpoint Private Securities LLC lifted its position in Cognizant Technology Solutions by 475.4% in the fourth quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 328 shares during the period. CVA Family Office LLC lifted its position in Cognizant Technology Solutions by 1,410.3% in the fourth quarter. CVA Family Office LLC now owns 589 shares of the information technology service provider’s stock worth $52,000 after purchasing an additional 550 shares during the period. Finally, West Bancorporation Inc. bought a new position in Cognizant Technology Solutions in the fourth quarter worth $53,000. 90.73% of the stock is owned by institutional investors.

Shares of NASDAQ:CTSH opened at $67.48 on Thursday. Cognizant Technology Solutions Co. has a twelve month low of $65.24 and a twelve month high of $93.47. The firm has a market cap of $35.17 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.22. The business has a fifty day moving average of $75.39 and a 200-day moving average of $83.09.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last announced its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Cognizant Technology Solutions Co. will post 4.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Friday, May 20th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.60%. The ex-dividend date was Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is 25.90%.

In related news, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the transaction, the director now owns 57,534 shares in the company, valued at $4,280,529.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew J. Stafford sold 5,867 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares in the company, valued at approximately $453,553.28. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Several brokerages recently commented on CTSH. StockNews.com cut Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Cowen reduced their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. Cowen reduced their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. Finally, Citigroup reduced their target price on Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.53.

About Cognizant Technology Solutions (Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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