Smith Moore & CO. raised its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,184 shares of the information technology service provider’s stock after buying an additional 565 shares during the period. Smith Moore & CO.’s holdings in Cognizant Technology Solutions were worth $376,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $366,248,000. Signition LP bought a new position in shares of Cognizant Technology Solutions during the first quarter worth about $593,000. Naples Global Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 14.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,950 shares of the information technology service provider’s stock worth $774,000 after purchasing an additional 1,535 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $474,000. Finally, Exane Derivatives lifted its position in shares of Cognizant Technology Solutions by 16,331.5% during the first quarter. Exane Derivatives now owns 29,248 shares of the information technology service provider’s stock worth $2,118,000 after purchasing an additional 29,070 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Shares of Cognizant Technology Solutions stock traded up $0.88 on Tuesday, hitting $60.87. The company had a trading volume of 241,918 shares, compared to its average volume of 4,576,957. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. The stock has a market capitalization of $33.84 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. On average, analysts forecast that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.

Several equities research analysts recently weighed in on CTSH shares. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Bank of America reiterated an “underperform” rating and set a $57.00 price objective (down previously from $71.00) on shares of Cognizant Technology Solutions in a research note on Monday, May 6th. BidaskClub upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Wells Fargo & Co lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $82.00 to $75.00 in a research note on Tuesday, April 16th. Finally, KeyCorp increased their price objective on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, February 7th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $75.55.

In other news, EVP Allen Shaheen sold 396 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Malcolm Frank sold 437 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $71.81, for a total transaction of $31,380.97. Following the completion of the transaction, the vice president now owns 27,009 shares of the company’s stock, valued at $1,939,516.29. The disclosure for this sale can be found here. Insiders sold 44,477 shares of company stock valued at $3,201,495 over the last quarter. Insiders own 0.56% of the company’s stock.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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