Benjamin Edwards Inc. Boosts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Benjamin Edwards Inc. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7,116.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,463 shares of the information technology service provider’s stock after purchasing an additional 37,930 shares during the quarter. Benjamin Edwards Inc.’s holdings in Cognizant Technology Solutions were worth $2,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 Europe London LLP purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $679,000. Fiduciary Trust Co raised its holdings in shares of Cognizant Technology Solutions by 0.3% in the 3rd quarter. Fiduciary Trust Co now owns 78,175 shares of the information technology service provider’s stock valued at $6,034,000 after buying an additional 210 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Cognizant Technology Solutions by 146.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after buying an additional 978,579 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Cognizant Technology Solutions by 2.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 304,869 shares of the information technology service provider’s stock valued at $23,530,000 after buying an additional 8,680 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Cognizant Technology Solutions by 19.1% in the 3rd quarter. Townsquare Capital LLC now owns 20,701 shares of the information technology service provider’s stock valued at $1,598,000 after buying an additional 3,324 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.8 %

Shares of NASDAQ CTSH opened at $80.58 on Thursday. The stock has a market cap of $39.95 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. 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 52-week low of $63.79 and a 52-week high of $82.41. The business has a 50-day moving average price of $77.72 and a 200 day moving average price of $73.98.

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 analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. TD Cowen boosted their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $79.47.

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.