Quantinno Capital Management LP Has $3.83 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Quantinno Capital Management LP grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 16.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,598 shares of the information technology service provider's stock after acquiring an additional 6,841 shares during the quarter. Quantinno Capital Management LP's holdings in Cognizant Technology Solutions were worth $3,828,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTSH. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions during the second quarter worth $25,000. Addison Advisors LLC raised its stake in Cognizant Technology Solutions by 127.7% during the 3rd 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 during the period. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the third quarter worth about $30,000. Pinnacle Bancorp Inc. grew its stake in 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 acquiring an additional 146 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after purchasing an additional 158 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTSH shares. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Daiwa America upgraded Cognizant Technology Solutions to a "hold" rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Mizuho raised their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, 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 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $79.47.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $0.50 on Monday, hitting $80.64. The company's stock had a trading volume of 2,639,169 shares, compared to its average volume of 3,776,552. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock's 50 day moving average is $77.88 and its 200-day moving average is $74.18. The company has a market capitalization of $39.98 billion, a PE ratio of 17.95, a PEG ratio of 2.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced 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. The company had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Insider Activity

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

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.