Oppenheimer Asset Management Inc. Has $1.23 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Oppenheimer Asset Management Inc. lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,886 shares of the information technology service provider’s stock after selling 156 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions by 11.7% in 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 boosted 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 valued at $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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. Legal & General Group Plc increased its position in shares of Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Cognizant Technology Solutions by 1.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock worth $329,452,000 after purchasing an additional 67,017 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTSH shares. Royal Bank of Canada raised 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 research note on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Down 4.5 %

Shares of CTSH opened at $77.11 on Monday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. The firm’s 50 day moving average is $76.85 and its 200-day moving average is $72.93. The stock has a market capitalization of $38.23 billion, a PE ratio of 17.06, a P/E/G ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.