Cognizant Technology Solutions Co. (NASDAQ:CTSH) is Pzena Investment Management LLC's Largest Position

Pzena Investment Management LLC trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,666,002 shares of the information technology service provider's stock after selling 943,586 shares during the quarter. Cognizant Technology Solutions comprises approximately 4.7% of Pzena Investment Management LLC's portfolio, making the stock its biggest position. Pzena Investment Management LLC owned about 3.56% of Cognizant Technology Solutions worth $1,358,516,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Addison Advisors LLC increased its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after buying an additional 189 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $30,000. Trust Co. of Vermont increased its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after buying an additional 292 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $36,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 1.8 %

Shares of NASDAQ CTSH traded down $1.53 during mid-day trading on Tuesday, reaching $82.47. 4,361,301 shares of the company were exchanged, compared to its average volume of 3,776,028. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a market cap of $40.79 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a 50-day moving average of $82.23 and a 200 day moving average of $79.38.

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Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.50%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CTSH shares. Morgan Stanley raised their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays raised their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. BMO Capital Markets raised their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. Finally, UBS Group lifted their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.67.

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.