Fisher Asset Management LLC Lowers Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fisher Asset Management LLC trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,909 shares of the information technology service provider’s stock after selling 237 shares during the period. Fisher Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $379,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions in the second quarter valued at $25,000. Addison Advisors LLC grew 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 valued at $26,000 after acquiring an additional 189 shares during the last quarter. LRI Investments LLC bought a new position in Cognizant Technology Solutions during the first quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 0.3 %

Shares of NASDAQ:CTSH opened at $80.49 on Friday. The firm has a market capitalization of $39.91 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.23 and a beta of 1.05. 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 50 day moving average price of $77.45 and a 200-day moving average price of $73.74. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Daiwa America raised 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, seventeen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus 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.