Nissay Asset Management Corp Japan ADV decreased its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.5% during the third quarter, HoldingsChannel reports. The firm owned 96,544 shares of the information technology service provider’s stock after selling 13,737 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Cognizant Technology Solutions were worth $7,448,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Kaizen Advisory LLC boosted its stake in Cognizant Technology Solutions by 149.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after purchasing an additional 856 shares in the last quarter. Fort L.P. bought a new position in Cognizant Technology Solutions in the 2nd quarter worth about $123,000. San Francisco Sentry Investment Group CA boosted its stake in Cognizant Technology Solutions by 170.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after purchasing an additional 1,202 shares in the last quarter. Parallel Advisors LLC boosted its stake in Cognizant Technology Solutions by 65.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after purchasing an additional 881 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter worth about $180,000. Institutional investors own 88.04% of the company’s stock.
Several equities analysts have issued reports on the stock. Bank of America cut shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and lowered their target price for the company from $91.00 to $81.00 in a research note on Tuesday, September 4th. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Monday, July 9th. JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research note on Tuesday, August 14th. Cowen restated a “buy” rating and set a $87.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Finally, BidaskClub upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average price target of $85.38.
Shares of NASDAQ:CTSH opened at $66.52 on Wednesday. Cognizant Technology Solutions Corp has a twelve month low of $65.14 and a twelve month high of $85.10. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $40.92 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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