Assetmark Inc. Purchases 12,701 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Assetmark Inc. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 573,922 shares of the information technology service provider's stock after acquiring an additional 12,701 shares during the period. Assetmark Inc. owned 0.12% of Cognizant Technology Solutions worth $44,295,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Pinnacle Bancorp Inc. grew its stake in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Benjamin Edwards Inc. grew its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Choate Investment Advisors increased its stake in Cognizant Technology Solutions by 0.4% during the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider's stock valued at $3,558,000 after purchasing an additional 180 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider's stock worth $862,000 after buying an additional 194 shares during the last quarter. Finally, First Personal Financial Services lifted its stake in shares of Cognizant Technology Solutions by 0.6% in the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider's stock worth $2,373,000 after buying an additional 195 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH traded down $1.05 during midday trading on Friday, reaching $80.31. The company had a trading volume of 3,994,358 shares, compared to its average volume of 3,449,107. The business has a 50-day moving average of $76.47 and a two-hundred day moving average of $72.39. 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 Co. has a 1 year low of $63.79 and a 1 year high of $81.75. The company has a market cap of $39.82 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.19 and a beta of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America raised shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and raised their price target for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. Daiwa America upgraded Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a "buy" rating and a $90.00 target price for the company. Finally, Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $78.83.

Cognizant Technology Solutions Profile

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.