Dimensional Fund Advisors LP Has $378.48 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dimensional Fund Advisors LP lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,565,974 shares of the information technology service provider’s stock after buying an additional 94,209 shares during the period. Dimensional Fund Advisors LP owned about 1.12% of Cognizant Technology Solutions worth $378,483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after buying an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC raised its position in Cognizant Technology Solutions by 11.7% in the 2nd 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 purchasing an additional 1,943,127 shares during the last quarter. Boston Partners boosted its stake in Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $406,360,000. Finally, Cibc World Market Inc. increased its stake in shares of Cognizant Technology Solutions by 19,850.5% in the second 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 buying an additional 3,000,996 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Up 0.9 %

Cognizant Technology Solutions stock opened at $77.87 on Tuesday. The company’s 50 day simple moving average is $74.88 and its 200 day simple moving average is $71.41. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The firm has a market capitalization of $38.72 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm earned $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group started 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 on the stock. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird boosted their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

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.