25,547 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,547 shares of the information technology service provider’s stock, valued at approximately $1,972,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in 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. Pzena Investment Management LLC boosted its stake in Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CTSH shares. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. TD Cowen boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday. Barclays raised their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. One 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. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $78.37.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $74.61 on Monday. The stock has a market cap of $36.98 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.46. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The stock’s 50 day moving average price is $76.36 and its 200 day moving average price is $72.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during 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%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 dividend on an annualized basis and a dividend yield of 1.61%. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

About Cognizant Technology Solutions

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.