3,061 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, according to its most recent filing with the SEC. The firm acquired 3,061 shares of the information technology service provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of 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 buying an additional 158 shares during the period. Addison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the period. V Square Quantitative Management LLC boosted its stake in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after acquiring an additional 194 shares during the last quarter. Finally, First Personal Financial Services grew its holdings in Cognizant Technology Solutions by 0.6% during the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after acquiring an additional 195 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 0.3 %

Shares of CTSH stock opened at $76.32 on Wednesday. The firm’s fifty day moving average price is $76.86 and its two-hundred day moving average price is $73.08. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $37.84 billion, a P/E ratio of 16.88, a PEG ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results 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 business 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%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS 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. Investors 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 1.57%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTSH. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.47.

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.