Victory Capital Management Inc. Grows Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Victory Capital Management Inc. boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 953,775 shares of the information technology service provider's stock after buying an additional 76,522 shares during the quarter. Victory Capital Management Inc. owned approximately 0.19% of Cognizant Technology Solutions worth $73,612,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the 2nd quarter worth $25,000. Addison Advisors LLC grew its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after buying an additional 189 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of 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 purchasing an additional 146 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 1.9 %

CTSH stock traded down $1.55 during trading on Thursday, hitting $80.77. 3,264,209 shares of the company's stock were exchanged, compared to its average volume of 3,819,180. The stock has a market capitalization of $40.05 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.25 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. 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 business has a 50-day moving average price of $76.74 and a two-hundred day moving average price of $72.70.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS 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 paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions's dividend payout ratio is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CTSH shares. TD Cowen lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Barclays boosted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 23rd. Finally, Mizuho lifted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.83.

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.