Fmr LLC Has $850.78 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fmr LLC lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,023,261 shares of the information technology service provider’s stock after selling 1,175,872 shares during the period. Fmr LLC owned 2.22% of Cognizant Technology Solutions worth $850,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at $25,000. Addison Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $30,000. Finally, Pinnacle Bancorp Inc. raised its holdings in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $80.75 on Thursday. The business’s fifty day moving average is $77.24 and its 200 day moving average is $73.56. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month 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 stock has a market cap of $40.04 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05.

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 for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for 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 business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research reports. 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 report on Wednesday, August 28th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.47.

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.