Cognizant Technology Solutions Corporation $CTSH Shares Purchased by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,215 shares of the information technology service provider’s stock after acquiring an additional 9,836 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Cognizant Technology Solutions were worth $7,594,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CTSH. Salomon & Ludwin LLC acquired a new position in Cognizant Technology Solutions during the third quarter valued at approximately $40,000. Walled Lake Planning & Wealth Management LLC lifted its holdings in Cognizant Technology Solutions by 0.6% during the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 55,789 shares of the information technology service provider’s stock valued at $3,205,000 after purchasing an additional 358 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Cognizant Technology Solutions by 404.1% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64,718 shares of the information technology service provider’s stock worth $3,706,000 after purchasing an additional 51,880 shares in the last quarter. Greenleaf Trust acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $223,000. Finally, Hennessy Advisors Inc. raised its position in shares of Cognizant Technology Solutions by 3.9% during the third quarter. Hennessy Advisors Inc. now owns 34,133 shares of the information technology service provider’s stock worth $1,961,000 after acquiring an additional 1,278 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 0.0%

Shares of NASDAQ CTSH opened at $65.09 on Tuesday. The stock’s fifty day moving average is $62.27 and its 200 day moving average is $59.19. The stock has a market capitalization of $29.32 billion, a P/E ratio of 11.88, a PEG ratio of 1.24 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 5.76 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley reduced their target price on Cognizant Technology Solutions from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Mizuho set a $69.00 target price on shares of Cognizant Technology Solutions in a report on Monday. Daiwa Securities Group boosted their price target on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Cognizant Technology Solutions in a report on Friday, October 9th. Ten equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.17.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.