Covestor Ltd Increases Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Covestor Ltd lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,533 shares of the information technology service provider’s stock after acquiring an additional 690 shares during the quarter. Covestor Ltd’s holdings in Cognizant Technology Solutions were worth $231,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CTSH. Northwest Bank & Trust Co purchased a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. raised its position in shares of Cognizant Technology Solutions by 272.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 419 shares during the last quarter. Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 113.8% during the 1st quarter. Spire Wealth Management now owns 682 shares of the information technology service provider’s stock worth $42,000 after purchasing an additional 363 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Cognizant Technology Solutions by 1,025.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 664 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 605 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of CTSH stock traded up $0.56 on Tuesday, reaching $70.36. 714,526 shares of the stock were exchanged, compared to its average volume of 3,782,135. The stock has a market cap of $35.28 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $67.19 and a two-hundred day moving average of $66.58. Cognizant Technology Solutions Co. has a 1-year low of $54.25 and a 1-year high of $72.71.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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 net margin of 10.75% and a return on equity of 17.54%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the prior year, the company earned $1.17 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.4 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 21st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, November 20th. This represents a $1.16 dividend on an annualized basis and a yield of 1.65%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTSH. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $66.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Barclays lifted their price objective on Cognizant Technology Solutions from $53.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 25th. UBS Group initiated coverage on Cognizant Technology Solutions in a report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 price target for the company. BMO Capital Markets cut their price target on Cognizant Technology Solutions from $78.00 to $73.00 and set a “market perform” rating for the company in a report on Friday, November 3rd. Finally, StockNews.com initiated coverage on Cognizant Technology Solutions in a report on Thursday, October 5th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.94.

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.