Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Holdings Increased by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,291 shares of the information technology service provider’s stock after purchasing an additional 7,547 shares during the period. Trinity Legacy Partners LLC’s holdings in Cognizant Technology Solutions were worth $4,629,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter worth $1,972,000. Blair William & Co. IL raised its stake 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 purchasing an additional 412 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $1,687,000. Norden Group LLC acquired a new position in Cognizant Technology Solutions in the first quarter worth approximately $233,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in Cognizant Technology Solutions by 8.9% in the first 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 during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTSH. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, TD Cowen boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $81.36 on Friday. The stock has a 50-day simple moving average of $76.33 and a 200 day simple moving average of $72.21. The stock has a market capitalization of $40.33 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.06 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $81.53.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS 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 analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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. This represents a $1.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 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.