Frontier Capital Management Co. LLC Has $70.57 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Frontier Capital Management Co. LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 934,333 shares of the information technology service provider’s stock after selling 22,435 shares during the period. Frontier Capital Management Co. LLC owned 0.19% of Cognizant Technology Solutions worth $70,570,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $406,360,000. JPMorgan Chase & Co. raised its holdings in Cognizant Technology Solutions by 32.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after acquiring an additional 4,365,493 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Cognizant Technology Solutions by 1,861.7% during the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after acquiring an additional 1,600,621 shares during the period. KBC Group NV grew its holdings in shares of Cognizant Technology Solutions by 2,083.8% during the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock worth $107,473,000 after purchasing an additional 1,357,755 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in Cognizant Technology Solutions by 67.5% in the fourth quarter. Bank of Nova Scotia now owns 2,000,658 shares of the information technology service provider’s stock valued at $151,104,000 after purchasing an additional 805,888 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded down $0.63 during mid-day trading on Tuesday, hitting $66.62. 534,759 shares of the stock traded hands, compared to its average volume of 4,110,384. The business’s 50-day moving average price is $67.92 and its 200 day moving average price is $72.74. The company has a market cap of $33.12 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12-month low of $61.23 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the firm posted $1.11 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.80%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTSH. Mizuho reaffirmed a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday. Susquehanna decreased their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Finally, Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.67.

Cognizant Technology Solutions Company 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.