Janney Montgomery Scott LLC Invests $1.43 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Janney Montgomery Scott LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the third quarter, HoldingsChannel.com reports. The firm bought 18,571 shares of the information technology service provider’s stock, valued at approximately $1,433,000.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $1,972,000. Blair William & Co. IL increased its holdings in Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after buying an additional 412 shares during the period. Cetera Investment Advisers raised its position in shares of Cognizant Technology Solutions by 135.4% in 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. Vanguard Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after acquiring an additional 6,933,908 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $563,000. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTSH. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Trading Down 1.9 %

NASDAQ:CTSH opened at $80.77 on Friday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm’s fifty day moving average is $76.74 and its 200-day moving average is $72.70. The firm has a market cap of $40.05 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared 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. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend 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.