Commerce Bank Sells 585 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Commerce Bank decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.2% in the third quarter, Holdings Channel.com reports. The fund owned 17,843 shares of the information technology service provider’s stock after selling 585 shares during the period. Commerce Bank’s holdings in Cognizant Technology Solutions were worth $1,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTSH. Cibc World Market Inc. raised its stake in shares of Cognizant Technology Solutions by 19,850.5% in the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares during the period. Pzena Investment Management LLC grew 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 purchasing an additional 1,943,127 shares during the last quarter. Bank of Montreal Can raised its position in Cognizant Technology Solutions by 152.8% in the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after purchasing an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. lifted its stake in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Cognizant Technology Solutions by 129.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after buying an additional 1,073,666 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $79.54 on Monday. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The company has a market cap of $39.44 billion, a P/E ratio of 17.60, a PEG ratio of 2.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock’s 50-day moving average is $76.98 and its 200 day moving average is $73.32.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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. 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% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTSH shares. Deutsche Bank Aktiengesellschaft increased their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target 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.