Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 304,869 shares of the information technology service provider’s stock after purchasing an additional 8,680 shares during the quarter. Glenmede Trust Co. NA’s holdings in Cognizant Technology Solutions were worth $23,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $1,972,000. Daiwa Securities Group Inc. raised its holdings in Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after acquiring an additional 11,349 shares during the last quarter. Trinity Legacy Partners LLC raised its holdings in Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after acquiring an additional 7,547 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after purchasing an additional 6,626 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after purchasing an additional 19,157 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. 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 note on Friday, September 6th. 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 research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of NASDAQ:CTSH opened at $80.75 on Thursday. 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 50-day moving average price is $77.24 and its 200 day moving average price is $73.56. The company has a market cap of $40.04 billion, a PE ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly 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. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.