GAMMA Investing LLC Has $923,000 Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

GAMMA Investing LLC boosted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 19.9% during the first quarter, Holdings Channel.com reports. The fund owned 12,059 shares of the information technology service provider’s stock after acquiring an additional 2,002 shares during the period. GAMMA Investing LLC’s holdings in Cognizant Technology Solutions were worth $923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Park Square Financial Group LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $36,000. CoreCap Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after buying an additional 126 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $55,000. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. UBS Group dropped their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. TD Securities increased their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $88.00 to $98.00 in a report on Monday, May 19th. Finally, Robert W. Baird increased their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.00.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $77.74 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The company has a market capitalization of $38.32 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The firm has a 50 day moving average of $78.16 and a 200 day moving average of $78.85.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.11%.

Cognizant Technology Solutions announced that its board has approved a share repurchase program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.