Qsemble Capital Management LP Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Qsemble Capital Management LP purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,342 shares of the information technology service provider’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Cibc World Market Inc. lifted its holdings in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after buying an additional 3,000,996 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 11.7% during 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 buying an additional 1,943,127 shares during the period. Bank of Montreal Can lifted its holdings in shares of Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after buying an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after buying an additional 1,167,033 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after buying an additional 943,372 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTSH shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, Jefferies Financial Group started coverage on Cognizant Technology Solutions in a 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, seventeen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of Cognizant Technology Solutions stock opened at $80.75 on Thursday. The firm has a market cap of $40.04 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.22 and a beta of 1.05. The business has a 50-day moving average price of $77.24 and a 200-day moving average price of $73.56. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve 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, topping the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. 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.