Baron Wealth Management LLC Invests $212,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Baron Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,743 shares of the information technology service provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions in the second quarter worth about $25,000. Addison Advisors LLC boosted 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 worth $26,000 after buying an additional 189 shares during the period. LRI Investments LLC purchased a new position in Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $30,000. Finally, Pinnacle Bancorp Inc. boosted 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 worth $35,000 after acquiring an additional 146 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 0.3 %

Shares of CTSH opened at $76.32 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The firm has a 50 day moving average price of $76.86 and a 200-day moving average price of $73.08. The firm has a market cap 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 (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (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 analysts’ expectations of $4.99 billion. During the same period last year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. TD Cowen raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.47.

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.