DRW Securities LLC Sells 920 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

DRW Securities LLC decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,969 shares of the information technology service provider’s stock after selling 920 shares during the quarter. DRW Securities LLC’s holdings in Cognizant Technology Solutions were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. boosted its stake in shares of Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after purchasing an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after buying an additional 1,281,236 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after buying an additional 1,167,033 shares during the period. Finally, ING Groep NV lifted its stake in shares of Cognizant Technology Solutions by 61.5% in the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after acquiring an additional 943,372 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $80.75 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a 50 day simple moving average of $77.24 and a two-hundred day simple moving average of $73.56. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05.

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

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTSH. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.47.

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.