Addison Advisors LLC Purchases 189 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Addison Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 127.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 337 shares of the information technology service provider’s stock after acquiring an additional 189 shares during the period. Addison Advisors LLC’s holdings in Cognizant Technology Solutions were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its stake in Cognizant Technology Solutions by 6.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,875 shares of the information technology service provider’s stock worth $1,163,000 after purchasing an additional 936 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Cognizant Technology Solutions during the first quarter worth $210,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter worth $211,000. Meeder Advisory Services Inc. lifted its position in Cognizant Technology Solutions by 11.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,567 shares of the information technology service provider’s stock valued at $555,000 after acquiring an additional 765 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Cognizant Technology Solutions by 5.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,702 shares of the information technology service provider’s stock worth $418,000 after purchasing an additional 302 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CTSH shares. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $78.83.

Cognizant Technology Solutions Stock Performance

CTSH opened at $81.50 on Tuesday. 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 market capitalization of $40.41 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The business has a fifty day simple moving average of $76.47 and a 200 day simple moving average of $72.42. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.19.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the company posted $1.16 earnings per share. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

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.