Toroso Investments LLC Boosts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Toroso Investments LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,399 shares of the information technology service provider’s stock after acquiring an additional 648 shares during the period. Toroso Investments LLC’s holdings in Cognizant Technology Solutions were worth $942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $256,000. Canada Pension Plan Investment Board boosted its holdings in shares of Cognizant Technology Solutions by 84.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after purchasing an additional 123,220 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Cognizant Technology Solutions by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after purchasing an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $239,000. Finally, Brighton Jones LLC boosted its holdings in shares of Cognizant Technology Solutions by 18.7% in the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after purchasing an additional 550 shares in the last quarter. 90.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research reports. Wolfe Research cut Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $49.00 price objective for the company. in a report on Thursday, January 5th. Barclays increased their target price on Cognizant Technology Solutions from $45.00 to $53.00 and gave the company an “underweight” rating in a report on Monday, February 6th. Susquehanna dropped their target price on Cognizant Technology Solutions from $93.00 to $91.00 and set a “positive” rating for the company in a report on Friday, February 3rd. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $54.00 to $67.00 in a report on Friday, February 3rd. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $69.90.

Cognizant Technology Solutions Trading Down 1.0 %

CTSH opened at $57.79 on Friday. Cognizant Technology Solutions Co. has a one year low of $51.33 and a one year high of $93.47. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.16 and a beta of 1.10. The business has a 50 day simple moving average of $63.77 and a two-hundred day simple moving average of $60.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last announced its earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Cognizant Technology Solutions had a return on equity of 18.92% and a net margin of 11.79%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Analysts predict that Cognizant Technology Solutions Co. will post 4.46 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 17th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $1.16 annualized dividend and a dividend yield of 2.01%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. Cognizant Technology Solutions’s dividend payout ratio is currently 26.24%.

Cognizant Technology Solutions Profile

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.