Advisors Asset Management Inc. Has $221,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Advisors Asset Management Inc. decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 28.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,868 shares of the information technology service provider’s stock after selling 1,151 shares during the period. Advisors Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $221,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Cognizant Technology Solutions by 4.7% during the first quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock valued at $4,694,000 after buying an additional 2,907 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 14.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after purchasing an additional 716 shares during the period. Tidal Investments LLC lifted its position in shares of Cognizant Technology Solutions by 61.8% in the first quarter. Tidal Investments LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,536,000 after purchasing an additional 13,189 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Cognizant Technology Solutions by 4,140.0% during the first quarter. Plato Investment Management Ltd now owns 1,060 shares of the information technology service provider’s stock worth $78,000 after purchasing an additional 1,035 shares during the period. Finally, Virtu Financial LLC purchased a new position in Cognizant Technology Solutions during the first quarter valued at approximately $227,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of NASDAQ:CTSH opened at $80.75 on Friday. The company has a market cap of $40.04 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05. The stock’s 50-day moving average is $77.35 and its 200-day moving average is $73.61. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $1.16 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.

Analyst Ratings Changes

CTSH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions 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.