Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stake Raised by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,662,259 shares of the information technology service provider’s stock after acquiring an additional 302,948 shares during the quarter. Pacer Advisors Inc. owned about 0.52% of Cognizant Technology Solutions worth $173,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. D.A. Davidson & CO. bought a new stake in Cognizant Technology Solutions in the first quarter worth about $256,000. Canada Pension Plan Investment Board raised its holdings in Cognizant Technology Solutions by 84.4% during 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 buying an additional 123,220 shares during the period. Cetera Investment Advisers raised its holdings in Cognizant Technology Solutions by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after buying an additional 1,523 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth about $239,000. Finally, Brighton Jones LLC raised its holdings in Cognizant Technology Solutions by 18.7% during the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after buying an additional 550 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $0.57 during trading hours on Tuesday, reaching $69.65. 519,140 shares of the company’s stock were exchanged, compared to its average volume of 3,932,656. Cognizant Technology Solutions Co. has a fifty-two week low of $51.33 and a fifty-two week high of $72.71. The stock has a market capitalization of $35.18 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.82 and a beta of 1.09. The business has a fifty day moving average price of $69.35 and a 200-day moving average price of $64.33. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, August 2nd. The information technology service provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.13. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.84 billion. Cognizant Technology Solutions had a return on equity of 18.00% and a net margin of 11.31%. Cognizant Technology Solutions’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. Analysts predict that Cognizant Technology Solutions Co. will post 4.41 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Monday, August 21st were paid a $0.29 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.67%. Cognizant Technology Solutions’s payout ratio is 27.04%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Cognizant Technology Solutions from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $72.00 to $77.00 in a research note on Tuesday, August 22nd. Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $66.00 to $74.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Wedbush reaffirmed an “outperform” rating and set a $75.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, August 11th. BMO Capital Markets boosted their price target on Cognizant Technology Solutions from $70.00 to $78.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Finally, Barclays boosted their price target on Cognizant Technology Solutions from $53.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $68.75.

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.