Comgest Global Investors S.A.S. Has $11.56 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Comgest Global Investors S.A.S. lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 57.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,712 shares of the information technology service provider's stock after selling 200,791 shares during the period. Comgest Global Investors S.A.S.'s holdings in Cognizant Technology Solutions were worth $11,555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions in the 2nd quarter worth $25,000. Addison Advisors LLC grew its stake in shares of 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 valued at $26,000 after purchasing an additional 189 shares during the period. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the first quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. grew its position in Cognizant Technology Solutions by 47.4% during the 3rd 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. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $3.66 during trading hours on Friday, hitting $77.11. 5,411,813 shares of the stock were exchanged, compared to its average volume of 3,826,356. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a 50-day simple moving average of $76.85 and a two-hundred day simple moving average of $72.83. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. StockNews.com cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. One equities 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 company. According to MarketBeat.com, the stock 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.