Ground Swell Capital LLC Purchases Shares of 3,087 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Ground Swell Capital LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,087 shares of the information technology service provider’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions in the second quarter valued at about $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. lifted its position in shares of 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 buying an additional 146 shares during the period. Eastern Bank acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $37,000. Finally, Benjamin Edwards Inc. grew its position in 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 valued at $36,000 after acquiring an additional 158 shares during the period. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays lifted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $78.37.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Trading Up 0.0 %

NASDAQ:CTSH opened at $74.61 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.46. The business’s 50-day simple moving average is $76.36 and its 200-day simple moving average is $72.05. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The stock has a market capitalization of $36.98 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for 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%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

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.