BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 840,359 shares of the information technology service provider’s stock after acquiring an additional 174,020 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.17% of Cognizant Technology Solutions worth $64,859,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Citizens Financial Group Inc. RI purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth about $206,000. Moors & Cabot Inc. purchased a new position in Cognizant Technology Solutions in the third quarter valued at approximately $413,000. Grandfield & Dodd LLC raised its holdings in Cognizant Technology Solutions by 1.5% in the third quarter. Grandfield & Dodd LLC now owns 182,834 shares of the information technology service provider’s stock valued at $14,111,000 after buying an additional 2,654 shares during the period. First Horizon Advisors Inc. raised its holdings in Cognizant Technology Solutions by 5.0% in the third quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider’s stock valued at $435,000 after buying an additional 269 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cognizant Technology Solutions in the third quarter valued at approximately $734,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CTSH shares. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Mizuho raised their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of 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 investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Up 1.5 %

CTSH stock opened at $78.71 on Friday. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $39.03 billion, a P/E ratio of 17.41, a PEG ratio of 2.10 and a beta of 1.05. The firm has a 50 day simple moving average of $76.93 and a 200-day simple moving average of $73.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

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.