Capital Wealth Planning LLC Continues to Hold Stake in Cognizant Technology Solutions Corporation (CTSH)

Capital Wealth Planning LLC held its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,000 shares of the information technology service provider’s stock at the end of the 2nd quarter. Capital Wealth Planning LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after purchasing an additional 11 shares during the last quarter. Guardian Life Insurance Co. of America grew its position in shares of Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after purchasing an additional 27 shares during the last quarter. First Capital Advisors Group LLC. grew its position in shares of Cognizant Technology Solutions Corporation by 0.9% in the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after purchasing an additional 32 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after purchasing an additional 35 shares during the last quarter. Finally, Boltwood Capital Management grew its position in shares of Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Boltwood Capital Management now owns 15,910 shares of the information technology service provider’s stock valued at $1,056,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.181% during trading on Tuesday, hitting $72.311. 461,117 shares of the stock were exchanged. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 23.199 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.52. The stock’s 50 day moving average is $70.27 and its 200-day moving average is $64.82.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is 19.17%.

In other news, EVP James Patrick Lennox sold 1,725 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $71.57, for a total value of $123,458.25. Following the completion of the sale, the executive vice president now directly owns 8,407 shares in the company, valued at $601,688.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Middleton sold 1,460 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $67.39, for a total transaction of $98,389.40. Following the completion of the sale, the insider now owns 2,308 shares of the company’s stock, valued at $155,536.12. The disclosure for this sale can be found here. Insiders sold 161,376 shares of company stock valued at $11,378,187 over the last three months. Insiders own 1.08% of the company’s stock.

A number of brokerages recently issued reports on CTSH. Needham & Company LLC raised their target price on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Deutsche Bank AG restated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Societe Generale lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and raised their target price for the stock from $68.00 to $74.00 in a research report on Monday, June 5th. BidaskClub upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $71.43.

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Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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