Motley Fool Asset Management LLC Increases Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Motley Fool Asset Management LLC raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,098 shares of the information technology service provider’s stock after purchasing an additional 1,005 shares during the period. Motley Fool Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $36,000. CoreCap Advisors LLC grew its position in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after buying an additional 126 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $55,000. Optiver Holding B.V. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $66,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at $66,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.6%

Shares of NASDAQ CTSH opened at $69.15 on Tuesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The firm has a 50-day moving average price of $76.70 and a 200 day moving average price of $78.25. The stock has a market capitalization of $33.77 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a $0.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 25.20%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTSH. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Barclays decreased their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a “hold” rating and a $80.00 price target for the company. Guggenheim upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday, July 18th. Finally, Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.56.

About Cognizant Technology Solutions

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.