Grandfield & Dodd LLC Has $13.02 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Grandfield & Dodd LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,661 shares of the information technology service provider’s stock after selling 2,027 shares during the quarter. Grandfield & Dodd LLC’s holdings in Cognizant Technology Solutions were worth $13,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFG Advisory LLC lifted its stake in shares of Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after purchasing an additional 20,874 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cognizant Technology Solutions by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after purchasing an additional 38,526 shares during the period. Merit Financial Group LLC lifted its stake in shares of Cognizant Technology Solutions by 16.8% in the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after purchasing an additional 508 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $1,786,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded up $2.31 during midday trading on Thursday, reaching $70.14. The company’s stock had a trading volume of 6,550,564 shares, compared to its average volume of 4,079,435. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.09. The firm has a 50 day moving average price of $67.38 and a 200-day moving average price of $71.95. The stock has a market capitalization of $34.87 billion, a P/E ratio of 16.86, a PEG ratio of 2.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.71%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

CTSH has been the subject of a number of research analyst reports. Guggenheim initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. Mizuho reaffirmed a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a research report on Monday, June 24th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.44.

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.