Zurcher Kantonalbank Zurich Cantonalbank Has $29.44 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,395 shares of the information technology service provider’s stock after selling 60,082 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Cognizant Technology Solutions worth $29,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CTSH. Pzena Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions by 11.7% in the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cognizant Technology Solutions by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares in the last quarter. Legal & General Group Plc lifted its stake in Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after acquiring an additional 142,225 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock worth $329,452,000 after acquiring an additional 67,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cognizant Technology Solutions by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock valued at $250,428,000 after purchasing an additional 44,129 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of CTSH stock opened at $80.75 on Friday. The company has a market capitalization of $40.04 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The business’s fifty day moving average is $77.35 and its 200 day moving average is $73.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

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

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.