Hartford Funds Management Co LLC Buys 1,029 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hartford Funds Management Co LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,713 shares of the information technology service provider’s stock after acquiring an additional 1,029 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Cognizant Technology Solutions were worth $1,136,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions in the second quarter valued at about $25,000. Addison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions during the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.54 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. The stock has a market cap of $39.44 billion, a PE ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05. The company has a 50-day moving average price of $76.98 and a 200 day moving average price of $73.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data 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. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

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 dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.47.

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.