Raymond James Trust N.A. Sells 184 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Raymond James Trust N.A. reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,609 shares of the information technology service provider’s stock after selling 184 shares during the period. Raymond James Trust N.A.’s holdings in Cognizant Technology Solutions were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. lifted its holdings 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 worth $205,096,000 after acquiring an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC lifted its holdings 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 worth $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Bank of Montreal Can lifted its holdings 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 worth $146,132,000 after acquiring an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 worth $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 worth $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.54 on Monday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The company has a market cap of $39.44 billion, a P/E ratio of 17.60, a PEG ratio of 2.17 and a beta of 1.05. The firm has a 50-day moving average of $76.98 and a 200 day moving average of $73.32. 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 (NASDAQ:CTSH) last announced 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 business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTSH. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen lifted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target 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.