ICICI Prudential Asset Management Co Ltd Purchases 1,009 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

ICICI Prudential Asset Management Co Ltd increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 285,125 shares of the information technology service provider’s stock after acquiring an additional 1,009 shares during the quarter. Cognizant Technology Solutions comprises 2.3% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 7th largest position. ICICI Prudential Asset Management Co Ltd’s holdings in Cognizant Technology Solutions were worth $22,006,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CTSH. Haverford Trust Co acquired a new position in Cognizant Technology Solutions during the third quarter worth $200,000. Victory Capital Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 953,775 shares of the information technology service provider’s stock valued at $73,612,000 after purchasing an additional 76,522 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $714,000. Versor Investments LP purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $334,000. Finally, Delta Financial Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 11.5% during the 3rd quarter. Delta Financial Advisors LLC now owns 21,711 shares of the information technology service provider’s stock valued at $1,676,000 after acquiring an additional 2,246 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.0 %

CTSH stock traded up $0.01 on Wednesday, hitting $81.75. 307,413 shares of the company were exchanged, compared to its average volume of 3,801,104. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. The business’s fifty day moving average is $76.64 and its two-hundred day moving average is $72.63. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.83.

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.