Grandfield & Dodd LLC Has $14.11 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Grandfield & Dodd LLC increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,834 shares of the information technology service provider’s stock after buying an additional 2,654 shares during the quarter. Grandfield & Dodd LLC’s holdings in Cognizant Technology Solutions were worth $14,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 5.0% in the third quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider’s stock worth $435,000 after purchasing an additional 269 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $734,000. PNC Financial Services Group Inc. raised its position in shares of Cognizant Technology Solutions by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock valued at $9,228,000 after buying an additional 6,626 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $1,403,000. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 10.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,206 shares of the information technology service provider’s stock worth $479,000 after acquiring an additional 576 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $76.32 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a market cap of $37.84 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The firm’s fifty day moving average is $76.86 and its 200-day moving average is $73.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 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 the consensus estimate 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.57%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Wall Street Analyst Weigh In

Several brokerages have commented on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Barclays upped their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.47.

About Cognizant Technology Solutions

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.