Janney Montgomery Scott LLC Invests $1.43 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Janney Montgomery Scott LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,571 shares of the information technology service provider's stock, valued at approximately $1,433,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider's stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Cibc World Market Inc. boosted its stake in Cognizant Technology Solutions by 19,850.5% during the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider's stock worth $205,096,000 after buying an additional 3,000,996 shares during the period. Pzena Investment Management LLC boosted its stake in 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 worth $1,265,473,000 after buying an additional 1,943,127 shares during the period. Bank of Montreal Can increased its position in Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider's stock valued at $146,132,000 after acquiring an additional 1,281,236 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock valued at $122,603,000 after acquiring an additional 1,167,033 shares during the period. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 4.5 %

Cognizant Technology Solutions stock traded down $3.66 during mid-day trading on Friday, reaching $77.11. 5,411,813 shares of the company were exchanged, compared to its average volume of 3,826,356. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The business has a fifty day moving average of $76.82 and a 200 day moving average of $72.75. The firm has a market cap of $38.23 billion, a P/E ratio of 17.58, a PEG ratio of 2.27 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.

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

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.56%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a "buy" rating and a $90.00 target price on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Royal Bank of Canada upped their price objective on 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, Daiwa America upgraded Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.83.

Cognizant Technology Solutions Company 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.