Linscomb Wealth Inc. Has $2.06 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Linscomb Wealth Inc. trimmed its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,724 shares of the information technology service provider’s stock after selling 1,321 shares during the quarter. Linscomb Wealth Inc.’s holdings in Cognizant Technology Solutions were worth $2,063,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CTSH. Vanguard Group Inc. grew its holdings in 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 last quarter. Pzena Investment Management LLC grew its holdings in Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Boston Partners grew its holdings in Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after acquiring an additional 94,209 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after acquiring an additional 142,225 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.11 on Friday. The firm has a 50-day moving average of $76.85 and a 200-day moving average of $72.83. The company has a market cap of $38.23 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.56%. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $78.83.

Cognizant Technology Solutions Company 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.