Cognizant Technology Solutions Corporation $CTSH Stock Holdings Boosted by Vise Technologies Inc.

Vise Technologies Inc. increased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 78.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,044 shares of the information technology service provider’s stock after acquiring an additional 12,332 shares during the period. Vise Technologies Inc.’s holdings in Cognizant Technology Solutions were worth $1,611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Marquette Asset Management LLC boosted its holdings in Cognizant Technology Solutions by 183.9% during the third quarter. Marquette Asset Management LLC now owns 545 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 353 shares in the last quarter. Signature Equity Partners LLC lifted its position in shares of Cognizant Technology Solutions by 102.4% during the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock worth $37,000 after buying an additional 303 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $35,000. Alpine Bank Wealth Management acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $38,000. Finally, Nvwm LLC grew its position in Cognizant Technology Solutions by 2,059.2% in the third quarter. Nvwm LLC now owns 1,058 shares of the information technology service provider’s stock valued at $60,000 after acquiring an additional 1,009 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 2.7%

CTSH traded down $1.82 during mid-day trading on Friday, reaching $64.72. The stock had a trading volume of 5,629,325 shares, compared to its average volume of 6,673,993. The stock has a market capitalization of $29.15 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.22 and a current ratio of 2.22. The firm’s fifty day simple moving average is $62.46 and its two-hundred day simple moving average is $58.80. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.64 billion. Cognizant Technology Solutions had a return on equity of 17.72% and a net margin of 11.75%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 5.78 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 13th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 13th. Cognizant Technology Solutions’s payout ratio is 24.09%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTSH. Royal Bank Of Canada boosted their price target on shares of Cognizant Technology Solutions from $47.00 to $55.00 and gave the company a “sector perform” rating in a research report on Friday, October 30th. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, October 9th. Robert W. Baird set a $68.00 price objective on Cognizant Technology Solutions in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price objective on Cognizant Technology Solutions from $67.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Finally, Needham & Company LLC set a $78.00 target price on Cognizant Technology Solutions in a report on Monday, October 26th. Ten analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $68.17.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions is a professional services company that helps businesses use technology to modernize operations and develop digital capabilities. Its services include IT consulting, application development and maintenance, cloud and infrastructure services, data and artificial intelligence, engineering, and business process services.

The company serves clients across industries including financial services, healthcare, manufacturing, communications, media, and retail. Its operations span North America, Europe, and Asia-Pacific, with a significant global delivery network.

Cognizant was established in 1994 as a technology unit of Dun & Bradstreet and became an independent company in 1996.