5,033 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Moody National Bank Trust Division

Moody National Bank Trust Division bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,033 shares of the information technology service provider’s stock, valued at approximately $340,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Cognizant Technology Solutions by 2.6% in the first quarter. Vanguard Group Inc. now owns 42,692,149 shares of the information technology service provider’s stock worth $3,828,205,000 after buying an additional 1,068,699 shares during the period. State Street Corp increased its stake in shares of Cognizant Technology Solutions by 2.0% in the fourth quarter. State Street Corp now owns 23,086,842 shares of the information technology service provider’s stock worth $2,048,265,000 after buying an additional 452,967 shares during the period. Invesco Ltd. increased its position in Cognizant Technology Solutions by 2.3% during the 1st quarter. Invesco Ltd. now owns 17,470,671 shares of the information technology service provider’s stock valued at $1,566,595,000 after purchasing an additional 398,230 shares during the period. Wellington Management Group LLP increased its position in Cognizant Technology Solutions by 40.6% during the 1st quarter. Wellington Management Group LLP now owns 12,251,722 shares of the information technology service provider’s stock valued at $1,098,612,000 after purchasing an additional 3,537,761 shares during the period. Finally, Capital Research Global Investors increased its position in Cognizant Technology Solutions by 11.5% during the 1st quarter. Capital Research Global Investors now owns 10,619,591 shares of the information technology service provider’s stock valued at $952,259,000 after purchasing an additional 1,095,473 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Susquehanna Bancshares reduced their price objective on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $77.00 in a research report on Thursday, July 28th. HSBC downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $79.00 in a research report on Wednesday, August 17th. Cowen downgraded shares of Cognizant Technology Solutions to a “market perform” rating and reduced their target price for the stock from $86.00 to $75.00 in a research report on Thursday, July 28th. Finally, Robert W. Baird reduced their target price on shares of Cognizant Technology Solutions from $94.00 to $84.00 in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.63.

Insider Buying and Selling

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $65.44, for a total value of $285,841.92. Following the sale, the director now owns 13,556 shares in the company, valued at approximately $887,104.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Cognizant Technology Solutions Trading Up 1.6 %

Shares of CTSH stock opened at $63.21 on Tuesday. The company has a market cap of $32.73 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a fifty day moving average price of $66.40 and a 200-day moving average price of $74.55. Cognizant Technology Solutions Co. has a 1 year low of $60.84 and a 1 year high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. Cognizant Technology Solutions’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.55 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Friday, August 19th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.06%.

Cognizant Technology Solutions Company Profile

(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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