950 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, Holdings Channel reports. The fund bought 950 shares of the information technology service provider’s stock, valued at approximately $73,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Cognizant Technology Solutions in the 1st quarter worth $28,000. Pinnacle Bancorp Inc. increased its holdings in shares of Cognizant Technology Solutions by 47.4% in 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 last quarter. Benjamin Edwards Inc. increased its holdings in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $37,000. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Barclays increased their price target on shares of 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 shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $78.37.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $75.39 on Wednesday. The firm has a market cap of $37.37 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $80.27. 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’s fifty day simple moving average is $76.28 and its two-hundred day simple moving average is $72.16.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm 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 company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. As a group, equities 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. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 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.