Hotchkis & Wiley Capital Management LLC Sells 6,515 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hotchkis & Wiley Capital Management LLC reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079,910 shares of the information technology service provider’s stock after selling 6,515 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.22% of Cognizant Technology Solutions worth $83,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions during the 2nd quarter valued at about $25,000. Addison Advisors LLC boosted its holdings in shares of 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 worth $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the third quarter valued at about $30,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.4 %

Shares of Cognizant Technology Solutions stock opened at $80.82 on Tuesday. The business has a 50-day moving average price of $77.45 and a 200 day moving average price of $73.78. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.07 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.22 and a beta of 1.06. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41.

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, beating analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. 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. Royal Bank of Canada increased their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.