Avestar Capital LLC Buys 735 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Avestar Capital LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,594 shares of the information technology service provider’s stock after acquiring an additional 735 shares during the period. Avestar Capital LLC’s holdings in Cognizant Technology Solutions were worth $509,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the third 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. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $81.06 on Wednesday. The business’s 50-day moving average is $77.13 and its two-hundred day moving average is $73.51. The company has a market capitalization of $40.19 billion, a P/E ratio of 17.93, a P/E/G ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. 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 (NASDAQ:CTSH) last posted 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. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $1.16 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTSH shares. TD Cowen upped their price target 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. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.