2,592 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Haverford Trust Co

Haverford Trust Co purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,592 shares of the information technology service provider’s stock, valued at approximately $200,000.

A number of other institutional investors also recently modified their holdings of CTSH. Victory Capital Management Inc. raised its position in Cognizant Technology Solutions by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 953,775 shares of the information technology service provider’s stock valued at $73,612,000 after buying an additional 76,522 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth $714,000. Versor Investments LP acquired a new position in Cognizant Technology Solutions during the third quarter worth $334,000. Delta Financial Advisors LLC grew its position in Cognizant Technology Solutions by 11.5% in the third quarter. Delta Financial Advisors LLC now owns 21,711 shares of the information technology service provider’s stock valued at $1,676,000 after purchasing an additional 2,246 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTSH has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada increased their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Barclays increased their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.83.

Cognizant Technology Solutions Stock Down 1.9 %

CTSH opened at $80.77 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average of $76.74 and a 200-day moving average of $72.70. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a market capitalization of $40.05 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.25 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) 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 firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

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.