Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Trimmed by Goodman Financial Corp

Goodman Financial Corp trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,625 shares of the information technology service provider’s stock after selling 650 shares during the quarter. Cognizant Technology Solutions accounts for 3.3% of Goodman Financial Corp’s portfolio, making the stock its 10th largest position. Goodman Financial Corp’s holdings in Cognizant Technology Solutions were worth $14,635,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Cognizant Technology Solutions in the second quarter valued at about $25,000. Addison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 127.7% during the 3rd 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 last quarter. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions in the third quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% during 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 in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $80.85 on Tuesday. The company’s fifty day moving average is $77.03 and its two-hundred day moving average is $73.41. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market capitalization of $40.09 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.19 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 for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

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 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analyst Ratings Changes

CTSH has been the subject of several recent research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. 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 research report on Thursday, October 31st. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.