Quest Partners LLC Purchases 11,322 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Quest Partners LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 113,220.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,332 shares of the information technology service provider's stock after purchasing an additional 11,322 shares during the period. Quest Partners LLC's holdings in Cognizant Technology Solutions were worth $875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTSH. International Assets Investment Management LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $1,972,000. Trinity Legacy Partners LLC lifted its position in Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider's stock valued at $4,629,000 after acquiring an additional 7,547 shares in the last quarter. Cetera Investment Advisers lifted its position in Cognizant Technology Solutions by 135.4% in the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider's stock valued at $2,441,000 after acquiring an additional 19,157 shares in the last quarter. National Pension Service increased its stake in Cognizant Technology Solutions by 15.9% in the 3rd quarter. National Pension Service now owns 907,902 shares of the information technology service provider's stock valued at $70,072,000 after buying an additional 124,740 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Cognizant Technology Solutions by 2.3% in the 3rd quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider's stock valued at $44,295,000 after buying an additional 12,701 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.5 %

Shares of Cognizant Technology Solutions stock traded up $1.14 during trading hours on Thursday, reaching $78.71. The company's stock had a trading volume of 1,529,838 shares, compared to its average volume of 3,846,292. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a market capitalization of $39.03 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.10 and a beta of 1.05. The stock's fifty day simple moving average is $76.93 and its two-hundred day simple moving average is $73.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the firm earned $1.16 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast 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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTSH. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Bank of America upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. StockNews.com lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, TD Cowen upped their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $79.47.

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.