Cognizant Technology Solutions Co. (NASDAQ:CTSH) Holdings Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 276.9% in the 3rd quarter, Holdings Channel reports. The fund owned 1,588,528 shares of the information technology service provider’s stock after purchasing an additional 1,167,033 shares during the period. Assenagon Asset Management S.A.’s holdings in Cognizant Technology Solutions were worth $122,603,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Cibc World Market Inc. grew its holdings in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Cognizant Technology Solutions by 11.7% in 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 during the last quarter. Bank of Montreal Can raised its holdings in shares of 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. Finally, Price T Rowe Associates Inc. MD boosted its position 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 valued at $139,565,000 after purchasing an additional 1,073,666 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CTSH shares. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.58.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.85 on Thursday, hitting $75.22. 666,043 shares of the stock traded hands, compared to its average volume of 3,786,831. The business has a fifty day moving average price of $76.53 and a two-hundred day moving average price of $71.77. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The firm has a market capitalization of $37.40 billion, a PE ratio of 18.29, a P/E/G ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company posted $1.10 earnings per share. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

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.