Cerity Partners LLC Has $6.34 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cerity Partners LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,111 shares of the information technology service provider’s stock after buying an additional 9,131 shares during the quarter. Cerity Partners LLC’s holdings in Cognizant Technology Solutions were worth $6,337,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its stake in Cognizant Technology Solutions by 4.7% in the first quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock valued at $4,694,000 after purchasing an additional 2,907 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 14.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after buying an additional 716 shares in the last quarter. Tidal Investments LLC raised its stake in Cognizant Technology Solutions by 61.8% during the 1st quarter. Tidal Investments LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,536,000 after buying an additional 13,189 shares during the period. LBP AM SA lifted its holdings in Cognizant Technology Solutions by 86.9% during the first quarter. LBP AM SA now owns 11,351 shares of the information technology service provider’s stock worth $832,000 after acquiring an additional 5,278 shares in the last quarter. Finally, Plato Investment Management Ltd grew its stake in Cognizant Technology Solutions by 4,140.0% in the first quarter. Plato Investment Management Ltd now owns 1,060 shares of the information technology service provider’s stock valued at $78,000 after acquiring an additional 1,035 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. lifted their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. One investment 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $80.75 on Thursday. 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 firm has a 50-day moving average of $77.24 and a 200-day moving average of $73.56. The company has a market cap of $40.04 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. 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 business earned $1.16 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio 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.