The Manufacturers Life Insurance Company Has $36.09 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

The Manufacturers Life Insurance Company trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 467,609 shares of the information technology service provider’s stock after selling 163 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cognizant Technology Solutions were worth $36,090,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CTSH. Janus Henderson Group PLC raised its position in Cognizant Technology Solutions by 4.7% during 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 buying an additional 2,907 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings 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 purchasing an additional 716 shares during the period. Virtu Financial LLC purchased a new stake in shares of Cognizant Technology Solutions in the first quarter worth approximately $227,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter worth approximately $28,000. Finally, Burney Co. grew its position in Cognizant Technology Solutions by 4.6% during the first quarter. Burney Co. now owns 13,344 shares of the information technology service provider’s stock valued at $978,000 after purchasing an additional 581 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $80.49 on Friday. The stock has a 50-day simple moving average of $77.45 and a 200 day simple moving average of $73.70. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The stock has a market capitalization of $39.91 billion, a PE ratio of 17.81, a P/E/G ratio of 2.23 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates 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 company earned $1.16 earnings per share. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.