Huntington National Bank Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Huntington National Bank lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 6.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,574 shares of the information technology service provider’s stock after acquiring an additional 370 shares during the quarter. Huntington National Bank’s holdings in Cognizant Technology Solutions were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in Cognizant Technology Solutions in the third quarter worth $27,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cognizant Technology Solutions by 272.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock worth $37,000 after buying an additional 419 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Cognizant Technology Solutions by 33.5% in the second quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after buying an additional 158 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Cognizant Technology Solutions by 29.9% in the 1st quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock valued at $58,000 after acquiring an additional 150 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.5 %

NASDAQ CTSH opened at $77.10 on Friday. The stock’s fifty day moving average price is $75.25 and its 200-day moving average price is $70.85. The company has a current ratio of 2.25, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The stock has a market cap of $38.66 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.91 and a beta of 1.08. Cognizant Technology Solutions Co. has a 12 month low of $56.45 and a 12 month high of $78.93.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. As a group, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s dividend payout ratio is presently 27.62%.

Analyst Ratings Changes

Several analysts have weighed in on CTSH shares. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Wedbush raised their price target on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, December 26th. Redburn Atlantic started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, November 16th. They set a “neutral” rating and a $68.00 price objective for the company. Mizuho began coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 target price for the company. Finally, UBS Group initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.43.

View Our Latest Stock Report on CTSH

Cognizant Technology Solutions Company Profile

(Free Report)

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.

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

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