Tokio Marine Asset Management Co. Ltd. Acquires 1,091 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,510 shares of the information technology service provider’s stock after buying an additional 1,091 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its position in shares of Cognizant Technology Solutions by 5.6% in the first quarter. Avantax Advisory Services Inc. now owns 5,702 shares of the information technology service provider’s stock valued at $418,000 after purchasing an additional 302 shares during the period. Bleakley Financial Group LLC boosted its holdings in Cognizant Technology Solutions by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 6,514 shares of the information technology service provider’s stock valued at $477,000 after acquiring an additional 329 shares during the period. Blair William & Co. IL increased its stake in shares of Cognizant Technology Solutions by 2.5% in the first 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 during the period. Vanguard Group Inc. lifted its position in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at approximately $563,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Mizuho increased their target price 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. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $78.83.

Cognizant Technology Solutions Stock Down 4.5 %

Shares of NASDAQ:CTSH opened at $77.11 on Friday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The company has a market capitalization of $38.23 billion, a PE ratio of 17.06, a PEG ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a 50 day moving average price of $76.82 and a two-hundred day moving average price of $72.75.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 yield of 1.56%. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

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.