Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,420 shares of the information technology service provider’s stock after purchasing an additional 11,349 shares during the period. Daiwa Securities Group Inc.’s holdings in Cognizant Technology Solutions were worth $7,828,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Marco Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 4.0% in the third quarter. Marco Investment Management LLC now owns 48,845 shares of the information technology service provider’s stock worth $3,770,000 after buying an additional 1,900 shares during the period. Hartford Funds Management Co LLC lifted its stake in Cognizant Technology Solutions by 7.5% in the third quarter. Hartford Funds Management Co LLC now owns 14,713 shares of the information technology service provider’s stock valued at $1,136,000 after acquiring an additional 1,029 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in Cognizant Technology Solutions by 7.7% in the third quarter. Summit Trail Advisors LLC now owns 10,367 shares of the information technology service provider’s stock worth $800,000 after purchasing an additional 744 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Cognizant Technology Solutions by 26,662.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,141 shares of the information technology service provider’s stock valued at $165,000 after acquiring an additional 2,133 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in Cognizant Technology Solutions by 26.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 4,790 shares of the information technology service provider’s stock valued at $370,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTSH shares. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.47.

Cognizant Technology Solutions Trading Up 1.4 %

Cognizant Technology Solutions stock opened at $80.63 on Tuesday. The firm has a market capitalization of $39.98 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.19 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $77.03 and a 200 day moving average of $73.41. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41.

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

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 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.