Swiss National Bank Has $113.92 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Swiss National Bank grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,476,000 shares of the information technology service provider’s stock after buying an additional 1,900 shares during the period. Swiss National Bank’s holdings in Cognizant Technology Solutions were worth $113,918,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Pzena Investment Management LLC lifted its stake in shares of 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 period. Boston Partners lifted its stake in shares of Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares during the period. Legal & General Group Plc lifted its stake in shares of Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after purchasing an additional 142,225 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after purchasing an additional 67,017 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CTSH shares. JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective for the company. Barclays upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird upped their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Trading Down 0.3 %

Shares of CTSH stock opened at $76.87 on Tuesday. The firm has a 50 day moving average price of $76.86 and a two-hundred day moving average price of $73.00. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $38.11 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. 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 announced 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 net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Cognizant Technology Solutions Company 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.