Neo Ivy Capital Management Acquires New Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Neo Ivy Capital Management acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,534 shares of the information technology service provider's stock, valued at approximately $968,000.

Several other large investors also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth approximately $25,000. Addison Advisors LLC boosted its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after buying an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at about $30,000. Pinnacle Bancorp Inc. grew its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after purchasing an additional 158 shares during the period. Institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.88 during trading on Thursday, reaching $80.37. The company's stock had a trading volume of 1,869,333 shares, compared to its average volume of 3,756,703. The company has a market capitalization of $39.85 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company's fifty day moving average price is $78.11 and its 200-day moving average price is $74.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions's payout ratio is 26.55%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Mizuho lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 28th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a "buy" rating and a $90.00 price objective on the stock. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $79.47.

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.