Nwam LLC Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nwam LLC bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, Holdings Channel reports. The institutional investor bought 4,268 shares of the information technology service provider’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pzena Investment Management LLC increased its stake in 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 purchasing an additional 1,943,127 shares in the last quarter. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after acquiring an additional 94,209 shares during the last quarter. Legal & General Group Plc lifted its position in Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after acquiring an additional 142,225 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Cognizant Technology Solutions by 1.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after purchasing an additional 67,017 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTSH. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note 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 stock a “neutral” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised their price target 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, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions Trading Up 0.9 %

Shares of CTSH stock opened at $79.54 on Monday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The company’s fifty day simple moving average is $76.98 and its two-hundred day simple moving average is $73.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $39.44 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.17 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, analysts anticipate 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 announced 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 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.