LMR Partners LLP Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

LMR Partners LLP acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,899 shares of the information technology service provider's stock, valued at approximately $532,000.

Several other hedge funds have also added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the 2nd quarter worth $25,000. Addison Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 127.7% during the third 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. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of 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 valued at $35,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Mizuho upped their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a "buy" rating and a $90.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $79.47.

Cognizant Technology Solutions Stock Performance

CTSH traded up $1.25 on Wednesday, hitting $77.57. The company's stock had a trading volume of 4,883,293 shares, compared to its average volume of 3,839,225. The company's 50 day simple moving average is $76.86 and its 200-day simple moving average is $73.08. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. The firm has a market cap of $38.46 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS 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. Shareholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is 26.55%.

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.