Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stake Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,609 shares of the information technology service provider’s stock after selling 163 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Cognizant Technology Solutions worth $36,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter worth about $25,000. Addison Advisors LLC grew 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 worth $26,000 after acquiring an additional 189 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CTSH shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Robert W. Baird boosted their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Down 0.3 %

CTSH opened at $80.49 on Friday. The stock’s fifty day moving average is $77.45 and its 200-day moving average is $73.70. 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 capitalization of $39.91 billion, a PE ratio of 17.81, a P/E/G ratio of 2.23 and a beta of 1.05. 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 (NASDAQ:CTSH) last issued its quarterly earnings results 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 company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

About Cognizant Technology Solutions

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.