Tempus Wealth Planning LLC Raises Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tempus Wealth Planning LLC grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,547 shares of the information technology service provider’s stock after buying an additional 716 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Cognizant Technology Solutions were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new stake in shares of Cognizant Technology Solutions during the second quarter worth about $25,000. LRI Investments LLC purchased a new stake in shares of Cognizant Technology Solutions during the first quarter worth about $28,000. Pinnacle Bancorp Inc. grew its position in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Cognizant Technology Solutions by 42.1% during the second 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 in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.4 %

Shares of NASDAQ CTSH opened at $75.82 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The business’s 50 day moving average price is $76.49 and its 200-day moving average price is $71.74. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a market cap of $37.70 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

Several analysts recently issued reports on CTSH shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Barclays increased 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. Royal Bank of Canada increased their price target on 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. Finally, Robert W. Baird increased their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.58.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.