Radnor Capital Management LLC Makes New $1.91 Million Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Radnor Capital Management LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 24,740 shares of the information technology service provider's stock, valued at approximately $1,909,000.

Several other institutional investors also recently bought and sold shares of CTSH. Vanguard Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider's stock valued at $4,254,178,000 after acquiring an additional 6,933,908 shares during the period. Pzena Investment Management LLC boosted its position in shares of 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 purchasing an additional 1,943,127 shares in the last quarter. Boston Partners boosted its position in shares of Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider's stock worth $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of 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 purchasing an additional 142,225 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of recent analyst reports. TD Cowen raised their price objective 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. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 28th. Bank of America raised Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a "buy" rating and a $90.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on 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 analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus target price of $78.37.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded up $4.01 during trading hours on Wednesday, hitting $79.40. 4,116,601 shares of the stock were exchanged, compared to its average volume of 3,826,951. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $80.27. The firm's fifty day moving average price is $76.28 and its 200 day moving average price is $72.16. 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 has a market cap of $39.36 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.06 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $1.16 EPS. Cognizant Technology Solutions's quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.51%. Cognizant Technology Solutions's dividend payout ratio (DPR) 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.