Nomura Asset Management Co. Ltd. Buys 13,986 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nomura Asset Management Co. Ltd. raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,697 shares of the information technology service provider's stock after acquiring an additional 13,986 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Cognizant Technology Solutions were worth $16,956,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 11.7% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $378,483,000 after buying an additional 94,209 shares during the last quarter. Legal & General Group Plc increased its position in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider's stock valued at $363,153,000 after acquiring an additional 142,225 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Cognizant Technology Solutions by 1.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider's stock worth $329,452,000 after acquiring an additional 67,017 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

CTSH has been the subject of several research analyst reports. Royal Bank of Canada raised their target price 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. Deutsche Bank Aktiengesellschaft lifted 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. TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Daiwa America raised shares of Cognizant Technology Solutions to a "hold" rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.47.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded up $1.19 during trading hours on Wednesday, hitting $81.25. The stock had a trading volume of 2,150,615 shares, compared to its average volume of 3,764,601. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a 50 day simple moving average of $78.02 and a two-hundred day simple moving average of $74.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is currently 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.