Hotchkis & Wiley Capital Management LLC Lowers Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hotchkis & Wiley Capital Management LLC reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,079,910 shares of the information technology service provider's stock after selling 6,515 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.22% of Cognizant Technology Solutions worth $83,347,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares during the period. Dimensional Fund Advisors LP grew its stake in Cognizant Technology Solutions by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider's stock worth $378,483,000 after buying an additional 94,209 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider's stock worth $363,153,000 after buying an additional 142,225 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider's stock worth $329,452,000 after acquiring an additional 67,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Cognizant Technology Solutions by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider's stock worth $250,428,000 after acquiring an additional 44,129 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research report on Tuesday, August 27th. Bank of America raised Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a report 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 report on Friday, November 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and an average target price of $79.47.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.84 on Tuesday, reaching $79.98. The company had a trading volume of 2,372,481 shares, compared to its average volume of 3,802,996. The stock has a market cap of $39.66 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company's fifty day moving average is $77.45 and its 200 day moving average is $73.78.

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

Cognizant Technology Solutions Announces Dividend

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

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.