Comgest Global Investors S.A.S. Has $11.56 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Comgest Global Investors S.A.S. reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 57.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 149,712 shares of the information technology service provider’s stock after selling 200,791 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Cognizant Technology Solutions were worth $11,555,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. LJI Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $321,000. Natixis Advisors LLC raised its position in Cognizant Technology Solutions by 15.7% during the third quarter. Natixis Advisors LLC now owns 664,319 shares of the information technology service provider’s stock valued at $51,272,000 after acquiring an additional 90,097 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in Cognizant Technology Solutions during the third quarter valued at approximately $61,744,000. Empowered Funds LLC raised its position in Cognizant Technology Solutions by 8.0% during the third quarter. Empowered Funds LLC now owns 170,122 shares of the information technology service provider’s stock valued at $13,130,000 after acquiring an additional 12,537 shares in the last quarter. Finally, Empirical Finance LLC raised its position in Cognizant Technology Solutions by 2.0% during the third quarter. Empirical Finance LLC now owns 17,600 shares of the information technology service provider’s stock valued at $1,358,000 after acquiring an additional 337 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH traded down $3.66 during trading on Friday, reaching $77.11. 5,411,813 shares of the company’s stock were exchanged, compared to its average volume of 3,826,356. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $76.85 and a 200 day moving average price of $72.83. The company has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a PEG ratio of 2.27 and a beta of 1.05.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Analyst Ratings Changes

CTSH has been the topic of several recent research reports. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. TD Cowen raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One equities research 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 company currently has an average rating of “Hold” and a consensus target price of $78.83.

Cognizant Technology Solutions Company 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.