Aigen Investment Management LP purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,257 shares of the information technology service provider's stock, valued at approximately $714,000.
Several other large investors also recently added to or reduced their stakes in CTSH. Addison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after acquiring an additional 189 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $25,000. LRI Investments LLC purchased a new position in Cognizant Technology Solutions during the 1st quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth $30,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after purchasing an additional 146 shares during the period. Institutional investors own 92.44% of the company's stock.
Cognizant Technology Solutions Stock Performance
Shares of Cognizant Technology Solutions stock traded down $1.33 during trading hours on Thursday, reaching $80.99. 1,183,662 shares of the stock traded hands, compared to its average volume of 3,809,766. The company has a 50 day moving average price of $76.74 and a 200 day moving average price of $72.70. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 2.25 and a beta of 1.05. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $1.16 earnings per share. Cognizant Technology Solutions's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 28th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. StockNews.com cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $78.83.
View Our Latest Analysis on CTSH
Cognizant Technology Solutions 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 and Resources, and Communications, Media and Technology.
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