Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,268 shares of the information technology service provider’s stock after purchasing an additional 8,672 shares during the period. QRG Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $15,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Eastern Bank acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. lifted its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.4 %

Shares of CTSH stock opened at $74.90 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.46 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $80.27. The stock has a fifty day moving average of $76.32 and a two-hundred day moving average of $72.10. The firm has a market capitalization of $37.12 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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 company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.65 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. 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. Barclays lifted their price objective 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. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $78.37.

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.