Investment Management Corp of Ontario Has $4.33 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Investment Management Corp of Ontario lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 36.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,121 shares of the information technology service provider’s stock after selling 31,503 shares during the quarter. Investment Management Corp of Ontario’s holdings in Cognizant Technology Solutions were worth $4,331,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Cognizant Technology Solutions by 42.1% during 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 period. Addison Advisors LLC grew its stake in shares of 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. increased its holdings 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 valued at $61,000 after purchasing an additional 193 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after buying an additional 194 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CTSH shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Royal Bank of Canada lifted their target price 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 report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One 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’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Performance

CTSH opened at $79.98 on Wednesday. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The company has a market cap of $39.66 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.23 and a beta of 1.06. The company’s fifty day moving average price is $77.62 and its two-hundred day moving average price is $73.93. 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 (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.16 EPS. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Cognizant Technology Solutions’s payout ratio is 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.