Pathstone Holdings LLC Trims Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Pathstone Holdings LLC lowered its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 53,061 shares of the information technology service provider’s stock after selling 390 shares during the period. Pathstone Holdings LLC’s holdings in Cognizant Technology Solutions were worth $4,095,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CTSH. Cibc World Market Inc. grew its stake in Cognizant Technology Solutions by 19,850.5% during the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC grew its stake in Cognizant Technology Solutions by 11.7% during the second 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 acquiring an additional 1,943,127 shares in the last quarter. Bank of Montreal Can grew its stake in Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after acquiring an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Cognizant Technology Solutions by 276.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Cognizant Technology Solutions by 129.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.9 %

NASDAQ:CTSH opened at $79.54 on Friday. The company has a fifty day moving average of $76.98 and a 200 day moving average of $73.28. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $39.44 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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 company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the business posted $1.16 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given 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 payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft lifted 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. Royal Bank of Canada lifted 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. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $79.47.

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.