Apollon Wealth Management LLC Purchases 4,675 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Apollon Wealth Management LLC lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 71.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,193 shares of the information technology service provider’s stock after acquiring an additional 4,675 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Machina Capital S.A.S. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $995,000. Maryland State Retirement & Pension System lifted its position in shares of Cognizant Technology Solutions by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 39,530 shares of the information technology service provider’s stock worth $2,986,000 after acquiring an additional 740 shares in the last quarter. Leuthold Group LLC boosted its holdings in shares of Cognizant Technology Solutions by 53.4% in the fourth quarter. Leuthold Group LLC now owns 7,407 shares of the information technology service provider’s stock worth $559,000 after acquiring an additional 2,579 shares during the period. Spire Wealth Management grew its position in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Cognizant Technology Solutions by 9.2% during the 4th quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock valued at $354,822,000 after purchasing an additional 401,076 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $66.80 on Friday. The firm’s fifty day moving average is $71.60 and its 200 day moving average is $72.53. Cognizant Technology Solutions Co. has a 52 week low of $61.12 and a 52 week high of $80.09. The firm has a market cap of $33.26 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent analyst reports. Guggenheim began coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price for the company. Evercore ISI upped their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $85.00 in a report on Thursday, January 11th. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.67.

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.