Thrivent Financial for Lutherans Has $2 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Thrivent Financial for Lutherans raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,931 shares of the information technology service provider’s stock after buying an additional 3,917 shares during the period. Thrivent Financial for Lutherans’ holdings in Cognizant Technology Solutions were worth $2,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its position in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. 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 shares of Cognizant Technology Solutions in the 1st quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. grew its position in shares of Cognizant Technology Solutions by 47.4% in the 3rd 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 period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. TD Cowen lifted 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. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of Cognizant Technology Solutions stock opened at $80.75 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The firm has a market cap of $40.04 billion, a PE ratio of 17.87, a PEG ratio of 2.22 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 2.23. The company has a 50 day simple moving average of $77.35 and a two-hundred day simple moving average of $73.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its 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 net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $1.16 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, November 19th. 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.