Linscomb Wealth Inc. Buys 201 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Linscomb Wealth Inc. boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,898 shares of the information technology service provider’s stock after purchasing an additional 201 shares during the period. Linscomb Wealth Inc.’s holdings in Cognizant Technology Solutions were worth $1,971,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. JPMorgan Chase & Co. dropped their price target 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 restated a “neutral” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a research report on Monday, June 24th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Barclays upped their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.75.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH traded up $1.36 during midday trading on Friday, reaching $74.57. 5,127,144 shares of the company were exchanged, compared to its average volume of 3,727,941. The stock has a market cap of $37.08 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The business’s fifty day moving average is $68.71 and its two-hundred day moving average is $71.87. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating 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 business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued 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 dividend yield of 1.61%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 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.