Mn Services Vermogensbeheer B.V. Sells 4,800 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mn Services Vermogensbeheer B.V. trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 192,237 shares of the information technology service provider’s stock after selling 4,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cognizant Technology Solutions were worth $14,837,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth approximately $1,972,000. Blair William & Co. IL raised its stake in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after buying an additional 412 shares during the last quarter. Duality Advisers LP bought a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at $1,687,000. Norden Group LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth $233,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Cognizant Technology Solutions by 8.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after acquiring an additional 53,061 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

CTSH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Barclays raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. 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 report on Thursday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.37.

Cognizant Technology Solutions Stock Performance

CTSH opened at $74.90 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.46 and a current ratio of 2.23. The stock has a market capitalization of $37.12 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 2.08 and a beta of 1.05. The company has a fifty day moving average of $76.32 and a 200 day moving average of $72.10. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 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.