Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 113,220.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,332 shares of the information technology service provider’s stock after acquiring an additional 11,322 shares during the period. Quest Partners LLC’s holdings in Cognizant Technology Solutions were worth $875,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $25,000. Addison Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of 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. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.6 %

Shares of Cognizant Technology Solutions stock opened at $77.57 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $76.88 and its 200-day simple moving average is $73.11. The stock has a market capitalization of $38.46 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.13 and a beta of 1.05. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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 for 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 business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTSH. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.47.

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.