BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $6.40 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,953 shares of the information technology service provider's stock after selling 12,398 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cognizant Technology Solutions were worth $6,402,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. boosted its holdings in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider's stock worth $205,096,000 after buying an additional 3,000,996 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock worth $1,265,473,000 after buying an additional 1,943,127 shares during the period. Bank of Montreal Can boosted its holdings in shares of Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider's stock worth $146,132,000 after buying an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock worth $122,603,000 after buying an additional 1,167,033 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Cognizant Technology Solutions by 146.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider's stock worth $126,940,000 after buying an additional 978,579 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 1.0 %

Shares of NASDAQ:CTSH traded down $0.84 during trading on Tuesday, hitting $79.98. 2,372,481 shares of the company's stock were exchanged, compared to its average volume of 3,802,996. The firm has a 50-day moving average price of $77.62 and a two-hundred day moving average price of $73.93. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The firm has a market cap of $39.66 billion, a P/E ratio of 17.69, a PEG ratio of 2.23 and a beta of 1.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is presently 26.55%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 28th. Mizuho upped their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.47.

About Cognizant Technology Solutions

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.