Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.6% during the third quarter, HoldingsChannel reports. The firm owned 101,420 shares of the information technology service provider’s stock after purchasing an additional 11,349 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cognizant Technology Solutions were worth $7,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. Pinnacle Bancorp Inc. increased its holdings in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Cognizant Technology Solutions by 32.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock valued at $61,000 after buying an additional 193 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in shares of Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $80.63 on Tuesday. The company has a market cap of $39.98 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.19 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $73.41.

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

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

A number of brokerages have issued reports on CTSH. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted 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 report on Wednesday, August 28th. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.47.

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.