Zurcher Kantonalbank Zurich Cantonalbank Sells 60,082 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.6% in the third quarter, Holdings Channel.com reports. The fund owned 381,395 shares of the information technology service provider’s stock after selling 60,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cognizant Technology Solutions were worth $29,436,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in shares of Cognizant Technology Solutions by 47.4% during the 3rd 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. lifted its position in 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 purchasing an additional 158 shares in the last quarter. Addison Advisors LLC grew its holdings in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Meeder Asset Management Inc. increased its position in Cognizant Technology Solutions by 32.5% in the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after buying an additional 193 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Cognizant Technology Solutions by 1.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after acquiring an additional 194 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $80.75 on Friday. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05. 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 Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The stock has a fifty day simple moving average of $77.35 and a two-hundred day simple moving average of $73.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analysts Set New Price Targets

Several analysts have commented on CTSH shares. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Robert W. Baird increased their price target on 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 target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $79.47.

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.