Livforsakringsbolaget Skandia Omsesidigt Has $1.79 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 36.5% during the third quarter, Holdings Channel reports. The fund owned 23,190 shares of the information technology service provider’s stock after purchasing an additional 6,195 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cognizant Technology Solutions were worth $1,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter worth $25,000. LRI Investments LLC bought a new stake in Cognizant Technology Solutions during the 1st quarter worth about $28,000. Pinnacle Bancorp Inc. increased its position in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $40,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.9 %

Shares of CTSH stock opened at $75.94 on Friday. The company has a market capitalization of $37.64 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.16 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 firm has a fifty day moving average of $75.95 and a 200-day moving average of $71.50. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 27.33%.

Wall Street Analyst Weigh In

CTSH has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Barclays upped their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $77.44.

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.