Oppenheimer Asset Management Inc. Has $1.23 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Oppenheimer Asset Management Inc. cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,886 shares of the information technology service provider’s stock after selling 156 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $1,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares in the last quarter. Boston Partners lifted its stake in Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after buying an additional 94,209 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after buying an additional 142,225 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Cognizant Technology Solutions by 1.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock worth $329,452,000 after buying an additional 67,017 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

CTSH has been the topic of a number of research reports. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.11 on Monday. 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 firm has a market cap of $38.23 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 2.13 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm’s 50-day simple moving average is $76.85 and its two-hundred day simple moving average is $72.93.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

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.