Donald L. Hagan LLC Lowers Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Donald L. Hagan LLC cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,121 shares of the information technology service provider’s stock after selling 1,556 shares during the period. Cognizant Technology Solutions comprises 0.9% of Donald L. Hagan LLC’s portfolio, making the stock its 24th largest holding. Donald L. Hagan LLC’s holdings in Cognizant Technology Solutions were worth $1,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its stake in Cognizant Technology Solutions by 14.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,961 shares of the information technology service provider’s stock valued at $460,000 after purchasing an additional 753 shares during the period. Foster & Motley Inc. lifted its holdings in shares of Cognizant Technology Solutions by 10.9% in the third quarter. Foster & Motley Inc. now owns 60,150 shares of the information technology service provider’s stock worth $4,642,000 after buying an additional 5,905 shares in the last quarter. Radnor Capital Management LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter worth $1,909,000. Catalyst Capital Advisors LLC grew its stake in Cognizant Technology Solutions by 379.7% during the third quarter. Catalyst Capital Advisors LLC now owns 2,293 shares of the information technology service provider’s stock valued at $177,000 after acquiring an additional 1,815 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in Cognizant Technology Solutions by 14.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 3,006 shares of the information technology service provider’s stock valued at $232,000 after acquiring an additional 382 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTSH has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective 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. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $78.37.

Cognizant Technology Solutions Trading Up 3.5 %

CTSH traded up $2.62 during trading hours on Wednesday, reaching $78.01. 368,341 shares of the company’s stock traded hands, compared to its average volume of 3,809,517. 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 firm has a 50-day moving average price of $76.28 and a 200 day moving average price of $72.16. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $80.27. The firm has a market capitalization of $38.67 billion, a PE ratio of 17.12, a PEG ratio of 2.06 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during 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 business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal 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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.