LPL Financial LLC raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,168 shares of the information technology service provider’s stock after acquiring an additional 16,400 shares during the quarter. LPL Financial LLC’s holdings in Cognizant Technology Solutions were worth $8,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. purchased a new stake in Cognizant Technology Solutions during the first quarter valued at about $256,000. Canada Pension Plan Investment Board lifted its stake in Cognizant Technology Solutions by 84.4% during the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after buying an additional 123,220 shares in the last quarter. Cetera Investment Advisers lifted its stake in Cognizant Technology Solutions by 9.4% during the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after buying an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Cognizant Technology Solutions during the first quarter valued at about $239,000. Finally, Brighton Jones LLC lifted its stake in Cognizant Technology Solutions by 18.7% during the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after buying an additional 550 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.6 %

Shares of CTSH stock opened at $79.08 on Tuesday. Cognizant Technology Solutions Co. has a 12 month low of $56.45 and a 12 month high of $80.09. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $76.82 and its two-hundred day moving average is $71.90. The company has a market cap of $39.37 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

CTSH has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Wedbush increased their price target on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 26th. UBS Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 price target for the company. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target for the company. Finally, Citigroup increased their price target on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.43.

Check Out Our Latest Research Report on Cognizant Technology Solutions

Cognizant Technology Solutions Profile

(Free Report)

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.

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