Bank of Montreal Can Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bank of Montreal Can raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,748,982 shares of the information technology service provider’s stock after purchasing an additional 628,970 shares during the period. Bank of Montreal Can owned 0.55% of Cognizant Technology Solutions worth $211,369,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Pzena Investment Management LLC increased its position in shares of Cognizant Technology Solutions by 11.7% during the second 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 buying an additional 1,943,127 shares during the period. Boston Partners grew its stake in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after acquiring an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after acquiring an additional 94,209 shares during the period. Legal & General Group Plc lifted its stake in Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after purchasing an additional 67,017 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CTSH shares. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Stock Up 1.4 %

Shares of CTSH opened at $80.63 on Tuesday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The business’s 50 day moving average is $77.03 and its 200 day moving average is $73.41. 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 market capitalization of $39.98 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the company posted $1.16 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Research analysts expect 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 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. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 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.