Mawer Investment Management Ltd. Sells 332,245 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mawer Investment Management Ltd. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 39.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 510,853 shares of the information technology service provider's stock after selling 332,245 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.10% of Cognizant Technology Solutions worth $39,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. Addison Advisors LLC raised its holdings in 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 acquiring an additional 189 shares during the period. LRI Investments LLC acquired a new stake in Cognizant Technology Solutions during the first quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. grew its holdings in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after buying an additional 146 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of recent research reports. Bank of America raised shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.47.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded down $0.24 during trading hours on Monday, reaching $76.87. 4,412,402 shares of the stock traded hands, compared to its average volume of 3,828,985. 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 company's 50-day moving average price is $76.85 and its two-hundred day moving average price is $72.93. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a market cap of $38.11 billion, a P/E ratio of 17.06, 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 for the quarter, topping the consensus estimate of $1.15 by $0.10. The company 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 firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, analysts anticipate 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. Investors of record on Tuesday, November 19th will be issued 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 1.56%. 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.