Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Trimmed by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,127 shares of the information technology service provider’s stock after selling 2,385 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $16,681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Cognizant Technology Solutions during the second quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter valued at $28,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Cognizant Technology Solutions by 47.4% during 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. Benjamin Edwards Inc. boosted its holdings in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares during the period. Finally, Eastern Bank acquired a new position in shares of Cognizant Technology Solutions during the third quarter valued at $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTSH. Barclays upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. One research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.37.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $75.39 on Wednesday. The company has a market capitalization of $37.37 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 2.06 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $80.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The business’s 50-day moving average is $76.28 and its 200-day moving average is $72.16.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect 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. Investors of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio 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.