Continuum Advisory LLC Buys 4,634 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Continuum Advisory LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.1% in the third quarter, Holdings Channel reports. The firm owned 50,681 shares of the information technology service provider’s stock after acquiring an additional 4,634 shares during the period. Continuum Advisory LLC’s holdings in Cognizant Technology Solutions were worth $4,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions during the 2nd quarter worth $25,000. Addison Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $30,000. Pinnacle Bancorp Inc. grew its holdings 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 buying an additional 146 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position 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 buying an additional 158 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTSH. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.47.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of Cognizant Technology Solutions stock opened at $81.15 on Monday. The stock has a market capitalization of $40.23 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $77.88 and a 200 day simple moving average of $74.18.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. Research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Cognizant Technology Solutions 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.