Toroso Investments LLC Buys 648 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Toroso Investments LLC boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,399 shares of the information technology service provider’s stock after purchasing an additional 648 shares during the quarter. Toroso Investments LLC’s holdings in Cognizant Technology Solutions were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CTSH. D.A. Davidson & CO. bought a new stake in Cognizant Technology Solutions in the first quarter worth approximately $256,000. Canada Pension Plan Investment Board increased its holdings in Cognizant Technology Solutions by 84.4% in the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after purchasing an additional 123,220 shares in the last quarter. Cetera Investment Advisers grew its stake in Cognizant Technology Solutions by 9.4% in 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 acquiring an additional 1,523 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $239,000. Finally, Brighton Jones LLC grew its stake in Cognizant Technology Solutions by 18.7% in the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after acquiring an additional 550 shares during the period. 90.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTSH has been the subject of a number of research reports. Moffett Nathanson cut Cognizant Technology Solutions from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $70.00 to $60.00 in a research note on Thursday, January 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $54.00 to $67.00 in a research note on Friday, February 3rd. Bank of America cut Cognizant Technology Solutions from a “neutral” rating to an “underperform” rating and set a $57.00 price objective for the company. in a research note on Monday, January 9th. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $65.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday, January 13th. Finally, Robert W. Baird cut Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $68.00 in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $69.90.

Cognizant Technology Solutions Stock Down 1.0 %

CTSH stock opened at $57.79 on Friday. The stock’s fifty day simple moving average is $63.77 and its two-hundred day simple moving average is $60.89. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 1-year low of $51.33 and a 1-year high of $93.47. The stock has a market cap of $29.43 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.16 and a beta of 1.10.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Cognizant Technology Solutions had a return on equity of 18.92% and a net margin of 11.79%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Analysts expect that Cognizant Technology Solutions Co. will post 4.46 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 17th were paid a $0.29 dividend. The ex-dividend date was Thursday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.01%. Cognizant Technology Solutions’s payout ratio is presently 26.24%.

Cognizant Technology Solutions Profile

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.