Bowling Portfolio Management LLC makes new investment in Cognizant Technology Solutions Co. (NASDAQ: CTSH)

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Bowling Portfolio Management LLC purchased a new stock position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) during Q1, according to the company in its most recent SEC filing. The fund bought 10,423 shares of the information technology service provider, valued at around $935,000.

Other big investors have also been buying and selling shares of the company recently. Oppenheimer & Co. Inc. increased its position in Cognizant Technology Solutions shares by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider worth $266,000 after buying 124 additional shares in the last quarter. Ascent Group LLC acquired a new stock position in Cognizant Technology Solutions during Q4 for a value of approximately $600,000. NN Investment Partners Holdings NV increased its position in Cognizant Technology Solutions shares by 2.3% during the 4th quarter. NN Investment Partners Holdings NV now owns 86,746 shares of the information technology service provider worth $7,695,000 after buying an additional 1,909 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Cognizant Technology Solutions shares by 80.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 106,535 shares of the information technology service provider worth $9,452,000 after buying an additional 47,359 shares in the last quarter. Finally, Cornerstone Advisory LLC acquired a new position in Cognizant Technology Solutions stock during Q4 worth approximately $27,000. 90.73% of the shares are currently held by hedge funds and other institutional investors.

CTSH opened at $67.48 on Thursday. The company has a fifty-day simple moving average of $75.39 and a 200-day simple moving average of $83.09. The company has a market capitalization of $35.17 billion, a PE ratio of 16.18, a growth price-earnings ratio of 1.37 and a beta of 1.10. Cognizant Technology Solutions Co. has a 1-year low of $65.24 and a 1-year high of $93.47. The company has a debt ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last reported results on Wednesday, May 4. The information technology service provider reported earnings per share of $1.08 for the quarter, beating analyst consensus estimates of $1.04 by $0.04. The company posted revenue of $4.83 billion in the quarter, versus a consensus estimate of $4.83 billion. Cognizant Technology Solutions posted a return on equity of 19.07% and a net margin of 11.59%. The company’s revenue increased by 9.7% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.97. Stock analysts expect Cognizant Technology Solutions Co. to post earnings per share of 4.51 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31. Shareholders of record on Friday, May 20 received a dividend of $0.27 per share. The ex-dividend date was Thursday, May 19. This represents a dividend of $1.08 on an annualized basis and a dividend yield of 1.60%. Cognizant Technology Solutions payout ratio is 25.90%.

In other news, Executive Vice President Andrew J. Stafford sold 5,867 shares of the company in a trade on Tuesday, May 10. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares of the company, valued at approximately $453,553.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Michael Patsalos-Fox sold 5,687 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $74.40, for a total value of $423,112.80. As a result of the transaction, the administrator now directly owns 57,534 shares of the company, valued at approximately $4,280,529.60. The disclosure of this sale can be found here. Company insiders own 0.34% of the company’s shares.

CTSH has been the subject of a number of recent analyst reports. Cowen lowered its target price on Cognizant Technology Solutions from $98.00 to $95.00 in a Monday, May 9 report. Citigroup reduced its target price on Cognizant Technology Solutions from $95.00 to $88.00 in a Thursday, May 5 report. StockNews.com downgraded Cognizant Technology Solutions from a “Strong Buy” rating to a “Buy” rating in a Wednesday, May 11 report. Finally, Cowen lowered its target price on Cognizant Technology Solutions from $98.00 to $95.00 in a Monday, May 9 report. One research analyst rated the stock with a sell rating, four issued a hold rating and ten issued a buy rating for the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $92.53.

About Cognizant technology solutions (Get a rating)

Cognizant Technology Solutions Corporation, a professional services firm, provides consulting, technology and outsourcing services in North America, Europe and internationally. It operates through four segments: Financial Services; Health care; products and resources; and communications, media and technology.

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Want to see what other hedge funds are holding in CTSH? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating).

Institutional ownership by quarter for Cognizant Technology Solutions (NASDAQ: CTSH)



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