Clark Estates Inc. NY Has $2.96 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Clark Estates Inc. NY trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,300 shares of the information technology service provider’s stock after selling 3,100 shares during the period. Clark Estates Inc. NY’s holdings in Cognizant Technology Solutions were worth $2,956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CTSH. Janus Henderson Group PLC increased its holdings in shares of Cognizant Technology Solutions by 4.7% in the 1st 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 during the period. B. Riley Wealth Advisors Inc. lifted its position in 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 worth $385,000 after buying an additional 716 shares in the last quarter. California State Teachers Retirement System grew its stake in Cognizant Technology Solutions by 0.5% in the first quarter. California State Teachers Retirement System now owns 817,227 shares of the information technology service provider’s stock valued at $59,895,000 after purchasing an additional 4,165 shares in the last quarter. Tidal Investments LLC raised its stake in shares of 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 purchasing an additional 13,189 shares in the last quarter. Finally, LBP AM SA lifted its holdings in shares of Cognizant Technology Solutions by 86.9% during the 1st quarter. LBP AM SA now owns 11,351 shares of the information technology service provider’s stock valued at $832,000 after buying an additional 5,278 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of CTSH stock opened at $81.06 on Wednesday. The company has a market capitalization of $40.19 billion, a P/E ratio of 17.93, a P/E/G ratio of 2.22 and a beta of 1.05. The firm has a 50-day moving average price of $77.13 and a 200 day moving average price of $73.51. 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 12-month low of $63.79 and a 12-month high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird raised 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. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Mizuho boosted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their price target 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. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average 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.