Linscomb Wealth Inc. Has $1.97 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Linscomb Wealth Inc. boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,898 shares of the information technology service provider’s stock after acquiring an additional 201 shares during the quarter. Linscomb Wealth Inc.’s holdings in Cognizant Technology Solutions were worth $1,971,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after buying an additional 7,445,089 shares during the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $406,360,000. Cibc World Markets Corp boosted its holdings in shares of Cognizant Technology Solutions by 1,861.7% in the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after buying an additional 1,600,621 shares during the last quarter. KBC Group NV grew its position in Cognizant Technology Solutions by 2,083.8% during the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after buying an additional 1,357,755 shares during the period. Finally, Bank of Nova Scotia grew its position in Cognizant Technology Solutions by 67.5% during the fourth quarter. Bank of Nova Scotia now owns 2,000,658 shares of the information technology service provider’s stock valued at $151,104,000 after buying an additional 805,888 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded up $1.36 during trading hours on Friday, hitting $74.57. The stock had a trading volume of 5,127,144 shares, compared to its average volume of 3,727,941. The firm has a market capitalization of $37.08 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.19 and a beta of 1.05. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09. The company has a 50 day simple moving average of $68.71 and a two-hundred day simple moving average of $71.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion during 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 firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share. Research analysts forecast 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. Shareholders of record on Monday, May 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.61%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTSH. JPMorgan Chase & Co. dropped their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Mizuho reiterated a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Barclays raised their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. One investment 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.75.

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.