Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Increased by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,367 shares of the information technology service provider’s stock after buying an additional 744 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cognizant Technology Solutions were worth $800,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC bought a new position in Cognizant Technology Solutions in the third quarter worth about $1,972,000. Trinity Legacy Partners LLC lifted its holdings in shares of Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after purchasing an additional 7,547 shares during the last quarter. Cetera Investment Advisers boosted its position in Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after purchasing an additional 19,157 shares during the period. PNC Financial Services Group Inc. grew its stake in Cognizant Technology Solutions by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after buying an additional 6,626 shares during the last quarter. Finally, National Pension Service increased its position in Cognizant Technology Solutions by 15.9% in the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock worth $70,072,000 after buying an additional 124,740 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTSH shares. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Trading Up 1.4 %

NASDAQ:CTSH opened at $80.63 on Tuesday. The stock has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $73.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $39.98 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Cognizant Technology Solutions 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.