Qsemble Capital Management LP Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Qsemble Capital Management LP acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, HoldingsChannel reports. The fund acquired 4,342 shares of the information technology service provider’s stock, valued at approximately $335,000.

Several other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its stake in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in 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 purchasing an additional 158 shares during the last quarter. Addison Advisors LLC lifted its stake in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Cognizant Technology Solutions by 32.5% in the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $80.75 on Thursday. The business’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $73.56. The company has a market cap of $40.04 billion, a PE ratio of 17.87, a PEG ratio of 2.22 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.08% and a net margin of 11.60%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. Analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s 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.