International Assets Investment Management LLC Acquires New Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,547 shares of the information technology service provider's stock, valued at approximately $1,972,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions by 13.6% in the first 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. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 11.7% in the 2nd 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. Boston Partners lifted its holdings in Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider's stock valued at $569,175,000 after buying an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider's stock valued at $378,483,000 after buying an additional 94,209 shares during the period. Finally, Legal & General Group Plc grew its stake in Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider's stock worth $363,153,000 after acquiring an additional 142,225 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded up $0.29 during trading hours on Monday, hitting $74.90. The stock had a trading volume of 3,693,092 shares, compared to its average volume of 3,831,016. The stock's 50 day moving average is $76.32 and its 200 day moving average is $72.10. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $80.27. The firm has a market capitalization of $37.12 billion, a PE ratio of 16.57, a PEG ratio of 2.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during 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%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is 26.55%.

Insider Buying and Selling

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTSH. Daiwa America raised shares of Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a "buy" rating and a $90.00 price target on the stock. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday. JPMorgan Chase & Co. raised their target price 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. Finally, Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average price target of $78.37.

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.