TD Asset Management Inc Has $27.96 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

TD Asset Management Inc boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,113 shares of the information technology service provider’s stock after buying an additional 18,407 shares during the period. TD Asset Management Inc owned approximately 0.08% of Cognizant Technology Solutions worth $27,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CTSH. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $1,786,000. Atria Wealth Solutions Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $211,000. Spire Wealth Management raised its holdings in Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares during the last quarter. Principal Securities Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $728,000. Finally, Dana Investment Advisors Inc. raised its holdings in Cognizant Technology Solutions by 67.0% during the fourth quarter. Dana Investment Advisors Inc. now owns 5,357 shares of the information technology service provider’s stock worth $405,000 after buying an additional 2,150 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CTSH. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.2 %

Shares of CTSH opened at $75.84 on Friday. The firm’s 50 day simple moving average is $73.84 and its 200 day simple moving average is $71.56. The company has a market capitalization of $37.71 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

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.