Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Marco Investment Management LLC

Marco Investment Management LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 48,845 shares of the information technology service provider’s stock after purchasing an additional 1,900 shares during the quarter. Marco Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $3,770,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CTSH. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $1,972,000. Trinity Legacy Partners LLC raised its holdings in shares of Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after buying an additional 7,547 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Cognizant Technology Solutions by 135.4% during 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 buying an additional 19,157 shares during the last quarter. National Pension Service raised its holdings in shares of Cognizant Technology Solutions by 15.9% during the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock valued at $70,072,000 after buying an additional 124,740 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Cognizant Technology Solutions by 2.3% during the third quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider’s stock valued at $44,295,000 after buying an additional 12,701 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CTSH. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Jefferies Financial Group began coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Stock Up 0.9 %

Cognizant Technology Solutions stock opened at $79.54 on Friday. The firm has a market cap of $39.44 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The firm has a fifty day moving average price of $76.98 and a two-hundred day moving average price of $73.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.