SG Americas Securities LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

SG Americas Securities LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 183.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,567 shares of the information technology services provider’s stock after buying an additional 46,950 shares during the period. SG Americas Securities LLC’s holdings in Cognizant Technology Solutions were worth $4,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CTSH. LRI Investments LLC purchased a new position in shares of Cognizant Technology Solutions in the first quarter valued at about $28,000. Spire Wealth Management raised its stake in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology services provider’s stock valued at $34,000 after buying another 193 shares during that period. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions in the fourth quarter valued at about $40,000. Quarry LP bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $43,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 92.44% of the company’s shares.

Inside buying and selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 0.26% of shares are currently held by corporate insiders.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $74.42 on Monday. Cognizant Technology Solutions Co. it has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.35, and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $70.02 and a 200-day moving average price of $71.69. The firm has a market cap of $37.00 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company posted EPS of $1.10. The company’s revenue for the quarter was down 0.7% year-over-year. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.65 EPS for the current year.

Cognizant Technology Solutions announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Changes in Analyst Ratings

Several equities analysts recently commented on CTSH shares. Mizuho reissued a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Barclays upped their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a research report on Wednesday. August 7. Finally, Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.06, according to MarketBeat.com.

See the latest stock report on CTSH

Cognizant Technology Solutions Company Profile

(Free report)

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 & Resources, and Communications, Media & Technology.

Featured stories

Get daily Cognizant Technology Solutions news and reviews – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cognizant Technology Solutions and related companies with MarketBeat.com’s FREE daily email newsletter.