Janney Montgomery Scott LLC Invests $1.43 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Janney Montgomery Scott LLC purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,571 shares of the information technology service provider’s stock, valued at approximately $1,433,000.

Several other institutional investors have also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the first quarter valued at approximately $28,000. Pinnacle Bancorp Inc. grew its holdings in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the period. Benjamin Edwards Inc. raised 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 valued at $36,000 after acquiring an additional 158 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $80.77 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The stock’s 50 day moving average price is $76.74 and its two-hundred day moving average price is $72.70. The firm has a market capitalization of $40.05 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 2.25 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several recent analyst reports. TD Cowen upped 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, October 31st. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $78.83.

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.