Huntington National Bank Raises Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Huntington National Bank lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,574 shares of the information technology service provider’s stock after purchasing an additional 370 shares during the period. Huntington National Bank’s holdings in Cognizant Technology Solutions were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pathstone Family Office LLC boosted its holdings in shares of Cognizant Technology Solutions by 153.2% during the 3rd quarter. Pathstone Family Office LLC now owns 32,074 shares of the information technology service provider’s stock worth $2,203,000 after purchasing an additional 19,407 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 4.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,813 shares of the information technology service provider’s stock worth $2,020,000 after purchasing an additional 1,365 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Cognizant Technology Solutions by 37.4% during the 3rd quarter. Van ECK Associates Corp now owns 118,836 shares of the information technology service provider’s stock worth $8,050,000 after purchasing an additional 32,358 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $1,233,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cognizant Technology Solutions by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock valued at $206,066,000 after buying an additional 28,455 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 1.5 %

Cognizant Technology Solutions stock opened at $77.10 on Friday. Cognizant Technology Solutions Co. has a twelve month low of $56.45 and a twelve month high of $78.93. The stock’s fifty day simple moving average is $75.25 and its 200-day simple moving average is $70.85. The company has a current ratio of 2.25, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $38.66 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.91 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, equities 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is presently 27.62%.

Analysts Set New Price Targets

Several research firms have recently commented on CTSH. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Redburn Atlantic began coverage on shares of Cognizant Technology Solutions in a research report on Thursday, November 16th. They set a “neutral” rating and a $68.00 price target on the stock. Finally, 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 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $75.43.

Read Our Latest Analysis 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.

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

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