950 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Intact Investment Management Inc.

by · The Markets Daily

Intact Investment Management Inc. bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 950 shares of the information technology service provider’s stock, valued at approximately $73,000.

Other hedge funds have also bought and sold shares of the company. Ground Swell Capital LLC bought a new stake in Cognizant Technology Solutions in the third quarter valued at $238,000. BSW Wealth Partners increased its stake in Cognizant Technology Solutions by 7.6% in the third quarter. BSW Wealth Partners now owns 4,006 shares of the information technology service provider’s stock valued at $309,000 after purchasing an additional 283 shares in the last quarter. Van ECK Associates Corp increased its stake in Cognizant Technology Solutions by 7.3% in the third quarter. Van ECK Associates Corp now owns 171,680 shares of the information technology service provider’s stock valued at $13,060,000 after purchasing an additional 11,677 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Cognizant Technology Solutions in the third quarter valued at $50,000. Finally, Janney Montgomery Scott LLC bought a new stake in Cognizant Technology Solutions in the third quarter valued at $1,433,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.7 %

CTSH opened at $75.39 on Wednesday. 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 stock has a market cap of $37.37 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.06 and a beta of 1.05. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $80.27. The company’s 50-day moving average price is $76.28 and its two-hundred day moving average price is $72.16.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share 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 firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, 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. Stockholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

Several research firms have recently commented on CTSH. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $78.37.

Get Our Latest Research Report on Cognizant Technology Solutions

Cognizant Technology Solutions Company 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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