Sanctuary Advisors LLC Invests $4.71 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sanctuary Advisors LLC bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 70,417 shares of the information technology service provider's stock, valued at approximately $4,714,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its stake in Cognizant Technology Solutions by 14.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 40,381 shares of the information technology service provider's stock worth $3,050,000 after acquiring an additional 5,008 shares during the period. Public Employees Retirement Association of Colorado raised its position in Cognizant Technology Solutions by 373.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 76,159 shares of the information technology service provider's stock worth $5,752,000 after buying an additional 60,086 shares during the last quarter. Prudential PLC boosted its holdings in shares of Cognizant Technology Solutions by 46.6% in the 4th quarter. Prudential PLC now owns 55,499 shares of the information technology service provider's stock valued at $4,192,000 after acquiring an additional 17,629 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at $46,000. Finally, Ossiam boosted its holdings in Cognizant Technology Solutions by 4.5% in the fourth quarter. Ossiam now owns 21,191 shares of the information technology service provider's stock valued at $1,601,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares of the company's stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company's stock.

Cognizant Technology Solutions Stock Up 0.8 %

CTSH traded up $0.61 during trading hours on Friday, hitting $77.14. 1,528,463 shares of the company's stock were exchanged, compared to its average volume of 3,896,709. The firm has a market cap of $38.35 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $75.89 and a 200 day moving average of $71.37.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company's revenue was down .7% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. Cognizant Technology Solutions's payout ratio is currently 28.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a "buy" rating and a $90.00 target price for the company. The Goldman Sachs Group restated a "neutral" rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Barclays lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 23rd. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and increased their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $77.44.

About Cognizant Technology Solutions

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.