ING Groep NV Has $191.28 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

ING Groep NV grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 61.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,478,364 shares of the information technology service provider's stock after buying an additional 943,372 shares during the quarter. Cognizant Technology Solutions makes up about 1.1% of ING Groep NV's investment portfolio, making the stock its 15th biggest position. ING Groep NV owned 0.50% of Cognizant Technology Solutions worth $191,280,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter valued at approximately $25,000. Addison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after buying an additional 189 shares during the period. LRI Investments LLC acquired a new position in Cognizant Technology Solutions in the first quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. raised its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after purchasing an additional 146 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTSH has been the topic of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Royal Bank of Canada raised 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 report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $78.83.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded down $1.55 during midday trading on Thursday, hitting $80.77. 2,728,681 shares of the company traded hands, compared to its average volume of 3,819,180. The stock has a market cap of $40.05 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The firm's fifty day moving average price is $76.74 and its 200-day moving average price is $72.70. 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 announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The company 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 firm's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a $0.30 dividend. 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 1.49%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 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.