Robeco Institutional Asset Management B.V. Cuts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,771 shares of the information technology service provider's stock after selling 43,504 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of Cognizant Technology Solutions worth $20,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Vanguard Group Inc. boosted its position 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 valued at $4,254,178,000 after buying an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC boosted its position in 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 during the period. Boston Partners increased its holdings in Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider's stock valued at $569,175,000 after purchasing an additional 101,078 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cognizant Technology Solutions by 1.7% in the second 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 raised 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 worth $363,153,000 after acquiring an additional 142,225 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTSH. Deutsche Bank Aktiengesellschaft boosted their price target 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. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Royal Bank of Canada upped 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. StockNews.com lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and an average price target of $78.37.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded up $2.02 during mid-day trading on Thursday, reaching $81.42. 2,076,096 shares of the stock traded hands, compared to its average volume of 3,819,384. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $81.42. The firm has a fifty day moving average price of $76.33 and a 200 day moving average price of $72.21. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued 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 quarter in the previous year, the firm earned $1.16 earnings per share. Cognizant Technology Solutions's revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Cognizant Technology Solutions 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.