Albion Financial Group UT Raises Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Albion Financial Group UT raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.6% during the first quarter, Holdings Channel.com reports. The firm owned 13,197 shares of the information technology service provider’s stock after purchasing an additional 929 shares during the quarter. Albion Financial Group UT’s holdings in Cognizant Technology Solutions were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter worth $26,000. Spire Wealth Management boosted its position in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Quarry LP purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $43,000. Finally, Valley National Advisers Inc. raised its position in Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 178 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTSH. Evercore ISI lifted their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Wedbush restated an “outperform” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $75.44.

Cognizant Technology Solutions Trading Down 0.5 %

Shares of NASDAQ:CTSH traded down $0.31 during trading on Wednesday, reaching $68.30. 1,230,286 shares of the stock were exchanged, compared to its average volume of 4,114,777. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.09. The firm’s 50-day moving average price is $67.14 and its 200 day moving average price is $72.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $33.96 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05.

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

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Cognizant Technology Solutions Company 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.