LMR Partners LLP Makes New $532,000 Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

LMR Partners LLP bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,899 shares of the information technology service provider’s stock, valued at approximately $532,000.

A number of other large investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the 2nd quarter valued at $25,000. Addison Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the first quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the third quarter worth about $30,000. Finally, Pinnacle Bancorp Inc. raised its stake in 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 purchasing an additional 146 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.3 %

Shares of CTSH opened at $76.32 on Wednesday. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.13 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 debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average of $76.86 and a 200-day moving average of $73.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results 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. 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 analyst estimates of $4.99 billion. During the same period last year, the firm posted $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTSH shares. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. One research 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. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price 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.