Cognizant Technology Solutions Corporation $CTSH Stock Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 176.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,002 shares of the information technology service provider’s stock after buying an additional 107,914 shares during the period. Ritholtz Wealth Management’s holdings in Cognizant Technology Solutions were worth $9,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CTSH. Dimensional Fund Advisors LP grew its holdings in shares of Cognizant Technology Solutions by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider’s stock valued at $392,947,000 after buying an additional 222,819 shares during the last quarter. Amundi raised its stake in Cognizant Technology Solutions by 9.2% in the 1st quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock worth $379,013,000 after acquiring an additional 520,532 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Cognizant Technology Solutions by 925.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock worth $141,456,000 after acquiring an additional 3,296,205 shares during the period. Hsbc Holdings PLC lifted its position in Cognizant Technology Solutions by 27.2% during the 1st quarter. Hsbc Holdings PLC now owns 3,471,681 shares of the information technology service provider’s stock worth $213,004,000 after acquiring an additional 742,466 shares during the period. Finally, Artemis Investment Management LLP lifted its position in Cognizant Technology Solutions by 289.6% during the 3rd quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock worth $166,897,000 after acquiring an additional 2,159,704 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.9%

Shares of Cognizant Technology Solutions stock opened at $64.43 on Thursday. The stock has a market cap of $28.80 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.83. The firm has a fifty day moving average price of $62.48 and a 200 day moving average price of $58.51. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.22 and a quick ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.46 by $0.03. Cognizant Technology Solutions had a net margin of 11.75% and a return on equity of 17.72%. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the company earned $1.39 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.78 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 13th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 13th. Cognizant Technology Solutions’s payout ratio is 24.09%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup reissued a “neutral” rating on shares of Cognizant Technology Solutions in a report on Monday, October 19th. Daiwa Securities Group raised their price objective on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research report on Thursday, July 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Cognizant Technology Solutions in a report on Friday, October 9th. Ten research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.17.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions is a professional services company that helps businesses use technology to modernize operations and develop digital capabilities. Its services include IT consulting, application development and maintenance, cloud and infrastructure services, data and artificial intelligence, engineering, and business process services. The company serves clients across industries including financial services, healthcare, manufacturing, communications, media, and retail. Its operations span North America, Europe, and Asia-Pacific, with a significant global delivery network.