US Bancorp DE Has $8.74 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

US Bancorp DE reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,941 shares of the information technology service provider’s stock after selling 476 shares during the quarter. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $8,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Cognizant Technology Solutions by 0.4% during the 1st quarter. BlackRock Inc. now owns 57,934,995 shares of the information technology service provider’s stock valued at $3,529,979,000 after purchasing an additional 233,309 shares in the last quarter. State Street Corp lifted its holdings in shares of Cognizant Technology Solutions by 2.2% during the 1st quarter. State Street Corp now owns 22,415,954 shares of the information technology service provider’s stock valued at $1,365,793,000 after purchasing an additional 473,809 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 1.7% during the 1st quarter. Pzena Investment Management LLC now owns 17,657,416 shares of the information technology service provider’s stock valued at $1,075,866,000 after purchasing an additional 299,737 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cognizant Technology Solutions by 84.6% during the 1st quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock valued at $801,166,000 after purchasing an additional 6,027,057 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Cognizant Technology Solutions by 97,310.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,012,223 shares of the information technology service provider’s stock valued at $718,878,000 after purchasing an additional 11,000,918 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Up 1.5 %

CTSH stock opened at $69.53 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $34.86 billion, a PE ratio of 16.92, a PEG ratio of 1.77 and a beta of 1.08. Cognizant Technology Solutions Co. has a 1-year low of $54.25 and a 1-year high of $72.71. The business’s 50 day simple moving average is $67.22 and its 200 day simple moving average is $66.48.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, November 1st. The information technology service provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Cognizant Technology Solutions had a return on equity of 17.54% and a net margin of 10.75%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.91 billion. During the same period in the previous year, the firm earned $1.17 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.4 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, November 20th. Cognizant Technology Solutions’s dividend payout ratio is 28.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTSH. Morgan Stanley cut their price objective on Cognizant Technology Solutions from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Barclays boosted their target price 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. UBS Group assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 target price on the stock. Royal Bank of Canada boosted 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. Finally, StockNews.com assumed coverage on Cognizant Technology Solutions in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.94.

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.