Charles Schwab Investment Management Inc. Has $250.43 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Charles Schwab Investment Management Inc. increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,244,731 shares of the information technology service provider's stock after acquiring an additional 44,129 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of Cognizant Technology Solutions worth $250,428,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $1,972,000. Trinity Legacy Partners LLC raised its stake in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider's stock worth $4,629,000 after purchasing an additional 7,547 shares in the last quarter. Cetera Investment Advisers lifted its stake in Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider's stock valued at $2,441,000 after acquiring an additional 19,157 shares during the last quarter. National Pension Service boosted its holdings in Cognizant Technology Solutions by 15.9% in the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider's stock worth $70,072,000 after purchasing an additional 124,740 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Cognizant Technology Solutions by 2.3% during the 3rd quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider's stock worth $44,295,000 after acquiring an additional 12,701 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $79.54 on Friday. The stock has a market cap of $39.44 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.10 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month 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. The business's 50-day simple moving average is $76.98 and its 200 day simple moving average is $73.24.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. Cognizant Technology Solutions's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTSH shares. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a "buy" rating and a $90.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted 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. Bank of America raised shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, Mizuho upped their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.

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