Mn Services Vermogensbeheer B.V. Reduces Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mn Services Vermogensbeheer B.V. trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,237 shares of the information technology service provider’s stock after selling 4,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cognizant Technology Solutions were worth $14,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors 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 valued at $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the 1st quarter worth about $28,000. Pinnacle Bancorp Inc. grew its holdings in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Eastern Bank bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at about $37,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of 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 worth $36,000 after buying an additional 158 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of a number of analyst reports. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada lifted 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. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.37.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $74.90 on Tuesday. The firm has a fifty day simple moving average of $76.32 and a two-hundred day simple moving average of $72.10. The company has a quick ratio of 2.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $80.27. The company has a market capitalization of $37.12 billion, a PE ratio of 16.57, a P/E/G ratio of 2.08 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. Research analysts expect that Cognizant Technology Solutions Co. will post 4.65 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.