Victory Capital Management Inc. Acquires 28,332 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Victory Capital Management Inc. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 607,876 shares of the information technology service provider’s stock after buying an additional 28,332 shares during the quarter. Victory Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $34,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CTSH. Avantax Advisory Services Inc. lifted its holdings in Cognizant Technology Solutions by 11.6% during the third quarter. Avantax Advisory Services Inc. now owns 4,334 shares of the information technology service provider’s stock valued at $249,000 after purchasing an additional 450 shares in the last quarter. Waterfront Wealth Inc. lifted its holdings in Cognizant Technology Solutions by 13.5% during the third quarter. Waterfront Wealth Inc. now owns 10,921 shares of the information technology service provider’s stock valued at $677,000 after purchasing an additional 1,303 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Cognizant Technology Solutions by 3.5% during the third quarter. Crossmark Global Holdings Inc. now owns 157,034 shares of the information technology service provider’s stock valued at $9,020,000 after purchasing an additional 5,250 shares in the last quarter. Brinker Capital Investments LLC lifted its holdings in Cognizant Technology Solutions by 18.1% during the third quarter. Brinker Capital Investments LLC now owns 52,285 shares of the information technology service provider’s stock valued at $3,003,000 after purchasing an additional 8,022 shares in the last quarter. Finally, Hendershot Investments Inc. lifted its holdings in Cognizant Technology Solutions by 21.4% during the third quarter. Hendershot Investments Inc. now owns 204,026 shares of the information technology service provider’s stock valued at $11,719,000 after purchasing an additional 35,952 shares in the last quarter. 90.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CTSH shares. StockNews.com began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Cognizant Technology Solutions from $65.00 to $54.00 in a report on Thursday, November 3rd. William Blair downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday, November 3rd. Bank of America downgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “underperform” rating and set a $57.00 target price on the stock. in a report on Monday, January 9th. Finally, Citigroup lowered their target price on shares of Cognizant Technology Solutions from $77.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.95.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $52.79, for a total transaction of $174,207.00. Following the transaction, the director now directly owns 28,310 shares in the company, valued at approximately $1,494,484.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

Cognizant Technology Solutions Trading Up 2.2 %

NASDAQ CTSH opened at $62.74 on Monday. The company’s 50-day moving average price is $59.25 and its 200-day moving average price is $61.80. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.05. The stock has a market cap of $32.24 billion, a PE ratio of 13.94, a PEG ratio of 1.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12 month low of $51.33 and a 12 month high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The information technology service provider reported $1.17 EPS for the quarter, hitting analysts’ consensus estimates of $1.17. Cognizant Technology Solutions had a net margin of 12.11% and a return on equity of 19.55%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.41 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Shareholders of record on Friday, November 18th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, November 17th. Cognizant Technology Solutions’s payout ratio is 24.00%.

About Cognizant Technology Solutions

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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