Covestor Ltd Has $328,000 Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Covestor Ltd lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,250 shares of the information technology service provider’s stock after selling 161 shares during the quarter. Covestor Ltd’s holdings in Cognizant Technology Solutions were worth $328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Cognizant Technology Solutions by 2.3% in the third quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider’s stock valued at $44,295,000 after purchasing an additional 12,701 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $524,000. Summit Global Investments acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $1,015,000. Trinity Legacy Partners LLC lifted its position in Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after acquiring an additional 7,547 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 5.0% during the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock worth $51,348,000 after acquiring an additional 31,758 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Mizuho upped their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.83.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $80.31 on Friday. The company has a market capitalization of $39.82 billion, a PE ratio of 17.77, a P/E/G ratio of 2.19 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. The stock has a 50-day moving average price of $76.47 and a two-hundred day moving average price of $72.36. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $81.75.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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. 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 revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend 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.