Janney Montgomery Scott LLC Increases Position in Cognizant Technology Solutions Corp (CTSH)

Janney Montgomery Scott LLC grew its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,605 shares of the information technology service provider’s stock after purchasing an additional 13,391 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cognizant Technology Solutions were worth $10,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Naples Global Advisors LLC boosted its position in Cognizant Technology Solutions by 186.5% during the second quarter. Naples Global Advisors LLC now owns 7,348 shares of the information technology service provider’s stock worth $580,000 after purchasing an additional 4,783 shares during the period. Reinhart Partners Inc. lifted its holdings in shares of Cognizant Technology Solutions by 3.7% during the second quarter. Reinhart Partners Inc. now owns 271,225 shares of the information technology service provider’s stock worth $21,424,000 after buying an additional 9,615 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Cognizant Technology Solutions by 3.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 24,982 shares of the information technology service provider’s stock worth $1,973,000 after buying an additional 739 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 3.3% during the second quarter. LS Investment Advisors LLC now owns 28,497 shares of the information technology service provider’s stock worth $2,251,000 after buying an additional 898 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Cognizant Technology Solutions by 85.7% during the second quarter. Whittier Trust Co. now owns 6,121 shares of the information technology service provider’s stock worth $299,000 after buying an additional 2,825 shares in the last quarter. 87.70% of the stock is currently owned by institutional investors.

In other news, SVP Robert Telesmanic sold 17,986 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $77.62, for a total transaction of $1,396,073.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Karen Mcloughlin sold 1,386 shares of the stock in a transaction on Friday, June 8th. The stock was sold at an average price of $76.87, for a total value of $106,541.82. Following the transaction, the chief financial officer now owns 43,887 shares of the company’s stock, valued at approximately $3,373,593.69. The disclosure for this sale can be found here. Insiders sold a total of 52,381 shares of company stock valued at $4,110,946 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions opened at $75.56 on Friday, according to Marketbeat.com. The firm has a market capitalization of $44.25 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.40 and a beta of 0.94. Cognizant Technology Solutions Corp has a 12 month low of $69.24 and a 12 month high of $85.10. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.03 billion. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. Cognizant Technology Solutions’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 EPS. equities analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.

A number of research analysts recently commented on the company. BidaskClub downgraded Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday, May 1st. Cowen restated a “buy” rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a report on Friday, August 3rd. BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, August 2nd. Finally, Credit Suisse Group set a $95.00 price target on Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average target price of $86.41.

Cognizant Technology Solutions Corp is a computer and technology company in the IT Consulting & Other Services industry.

See Also: Outstanding Shares and The Effect on Share Price

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

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