First Horizon Advisors Inc. Raises Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

First Horizon Advisors Inc. lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,638 shares of the information technology service provider’s stock after buying an additional 269 shares during the period. First Horizon Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions during the second quarter worth about $25,000. Addison Advisors LLC boosted its position in shares of 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 purchasing an additional 189 shares during the period. LRI Investments LLC purchased a new position in Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions during the third quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Cognizant Technology Solutions by 47.4% in the third 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. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $79.54 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. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a market cap of $39.44 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. The business has a fifty day moving average of $76.98 and a two-hundred day moving average of $73.24.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. TD Cowen raised 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. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price 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.