OneDigital Investment Advisors LLC Lowers Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

OneDigital Investment Advisors LLC trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,736 shares of the information technology service provider’s stock after selling 911 shares during the period. OneDigital Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CTSH. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the period. Addison Advisors LLC boosted its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after purchasing an additional 194 shares during the period. Finally, First Personal Financial Services increased its position in shares of Cognizant Technology Solutions by 0.6% in the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after buying an additional 195 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.3 %

CTSH opened at $76.32 on Wednesday. The business’s 50 day moving average price is $76.86 and its 200 day moving average price is $73.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market capitalization of $37.84 billion, a PE ratio of 16.88, a P/E/G ratio of 2.13 and a beta of 1.05. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS 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. Stockholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.47.

About Cognizant Technology Solutions

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.