Pathstone Family Office LLC Has $2.20 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Pathstone Family Office LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 153.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 32,074 shares of the information technology service provider’s stock after buying an additional 19,407 shares during the period. Pathstone Family Office LLC’s holdings in Cognizant Technology Solutions were worth $2,203,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Cognizant Technology Solutions by 3.7% in the 2nd quarter. BlackRock Inc. now owns 60,098,017 shares of the information technology service provider’s stock worth $3,923,199,000 after purchasing an additional 2,163,022 shares during the last quarter. State Street Corp boosted its position in shares of Cognizant Technology Solutions by 2.2% in the 1st quarter. State Street Corp now owns 22,415,954 shares of the information technology service provider’s stock worth $1,365,793,000 after purchasing an additional 473,809 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cognizant Technology Solutions by 1.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,298,321 shares of the information technology service provider’s stock worth $868,114,000 after purchasing an additional 149,358 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 11,343,662 shares of the information technology service provider’s stock worth $738,821,000 after purchasing an additional 1,633,309 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Cognizant Technology Solutions by 3.0% in the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after purchasing an additional 231,782 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 1.5 %

NASDAQ:CTSH opened at $77.10 on Friday. The firm has a market capitalization of $38.66 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. Cognizant Technology Solutions Co. has a twelve month low of $56.45 and a twelve month high of $78.93. The stock’s 50 day moving average price is $75.25 and its two-hundred day moving average price is $70.85. The company has a quick ratio of 2.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.05.

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

Cognizant Technology Solutions Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTSH shares. UBS Group began coverage on Cognizant Technology Solutions in a research report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 price target on the stock. Societe Generale reiterated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Barclays lifted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday. 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 company presently has an average rating of “Hold” and a consensus price target of $75.43.

Get Our Latest Stock Report on CTSH

Cognizant Technology Solutions 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.

See Also

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

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