Kingsview Wealth Management LLC Buys 2,489 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kingsview Wealth Management LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,211 shares of the information technology service provider’s stock after purchasing an additional 2,489 shares during the period. Kingsview Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $9,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $1,972,000. Trinity Legacy Partners LLC boosted its holdings in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after purchasing an additional 7,547 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after buying an additional 19,157 shares in the last quarter. National Pension Service raised its position in shares of Cognizant Technology Solutions by 15.9% during the 3rd quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock valued at $70,072,000 after buying an additional 124,740 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Cognizant Technology Solutions by 2.3% during the 3rd quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider’s stock valued at $44,295,000 after buying an additional 12,701 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price on shares of 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. One investment 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $79.54 on Friday. The company 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. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-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. The firm’s 50 day moving average price is $76.98 and its 200-day moving average price is $73.24.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.51%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

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.