Covestor Ltd Has $328,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Covestor Ltd decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,250 shares of the information technology service provider’s stock after selling 161 shares during the period. Covestor Ltd’s holdings in Cognizant Technology Solutions were worth $328,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $1,972,000. Blair William & Co. IL boosted its holdings in shares of Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $233,000. State Board of Administration of Florida Retirement System increased its stake in shares of Cognizant Technology Solutions by 8.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock valued at $47,667,000 after acquiring an additional 53,061 shares in the last quarter. Finally, Trinity Legacy Partners LLC lifted its position in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after acquiring an additional 7,547 shares during the period. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTSH shares. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Robert W. Baird increased their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Trading Down 1.3 %

Shares of CTSH stock opened at $80.31 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $39.82 billion, a P/E ratio of 17.77, a PEG ratio of 2.19 and a beta of 1.05. The company has a 50 day moving average of $76.47 and a 200-day moving average of $72.36. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $81.75.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

About Cognizant Technology Solutions

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.