Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Swedbank AB

Swedbank AB decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 257,809 shares of the information technology service provider’s stock after selling 22,921 shares during the period. Swedbank AB’s holdings in Cognizant Technology Solutions were worth $19,898,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Pzena Investment Management LLC increased its stake in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares in the last quarter. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after buying an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares during the period. Legal & General Group Plc lifted its position in shares of Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after buying an additional 142,225 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after acquiring an additional 67,017 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $80.63 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market cap of $39.98 billion, a P/E ratio of 17.84, a PEG ratio of 2.19 and a beta of 1.05. The company has a 50-day moving average price of $77.03 and a 200 day moving average price of $73.41. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41.

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. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. Sell-side analysts anticipate 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 will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

A number of research firms have weighed in on CTSH. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Mizuho lifted their price target 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. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.