NorthCrest Asset Manangement LLC Has $7.74 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NorthCrest Asset Manangement LLC increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,281 shares of the information technology service provider’s stock after buying an additional 3,431 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Cognizant Technology Solutions were worth $7,740,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CTSH. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cognizant Technology Solutions by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,832 shares of the information technology service provider’s stock valued at $9,291,000 after buying an additional 21,592 shares during the period. Ballentine Partners LLC raised its stake in shares of Cognizant Technology Solutions by 18.9% during the third quarter. Ballentine Partners LLC now owns 6,874 shares of the information technology service provider’s stock valued at $531,000 after acquiring an additional 1,091 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cognizant Technology Solutions by 276.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth $1,972,000. Finally, Greenleaf Trust increased its holdings in Cognizant Technology Solutions by 4.9% in the third quarter. Greenleaf Trust now owns 6,326 shares of the information technology service provider’s stock valued at $488,000 after purchasing an additional 296 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.1 %

Shares of CTSH stock traded down $0.04 during midday trading on Friday, reaching $74.82. 4,909,115 shares of the stock were exchanged, compared to its average volume of 3,818,535. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The firm has a market cap of $37.20 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company’s 50 day moving average is $76.52 and its two-hundred day moving average is $71.79.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTSH shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Finally, Barclays lifted 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. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions 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.