392 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 392 shares of the information technology service provider’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after buying an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Boston Partners raised its position in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Cognizant Technology Solutions by 2.7% in the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after purchasing an additional 142,225 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.9 %

Shares of CTSH stock opened at $80.77 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The firm’s 50 day moving average price is $76.74 and its two-hundred day moving average price is $72.70. The stock has a market cap of $40.05 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05.

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

Cognizant Technology Solutions Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTSH shares. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.83.

Cognizant Technology Solutions 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.