9,795 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 9,795 shares of the information technology service provider's stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Birch Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 20.2% in the 3rd quarter. Birch Capital Management LLC now owns 34,859 shares of the information technology service provider's stock valued at $2,690,000 after acquiring an additional 5,859 shares in the last quarter. Creative Planning raised its position in shares of Cognizant Technology Solutions by 8.6% in the third quarter. Creative Planning now owns 44,423 shares of the information technology service provider's stock valued at $3,429,000 after buying an additional 3,518 shares in the last quarter. CX Institutional lifted its position in shares of Cognizant Technology Solutions by 5.3% during the 3rd quarter. CX Institutional now owns 4,066 shares of the information technology service provider's stock valued at $314,000 after acquiring an additional 205 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in Cognizant Technology Solutions during the third quarter worth about $193,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Cognizant Technology Solutions during the third quarter worth about $161,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.2 %

CTSH stock traded up $0.14 during midday trading on Thursday, reaching $77.74. 2,012,027 shares of the company traded hands, compared to its average volume of 3,833,472. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The firm has a market capitalization of $38.65 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.16 and a beta of 1.05. The business has a 50 day moving average of $76.32 and a 200-day moving average of $71.63.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a "buy" rating and a $90.00 price objective for the company. Barclays increased 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 report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Finally, Daiwa America upgraded Cognizant Technology Solutions to a "hold" rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and an average price target of $77.44.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company's stock.

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.