Glenmede Trust Co. NA Grows Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Glenmede Trust Co. NA grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,869 shares of the information technology service provider’s stock after purchasing an additional 8,680 shares during the period. Glenmede Trust Co. NA owned approximately 0.06% of Cognizant Technology Solutions worth $23,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CTSH. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions in the 2nd quarter valued at about $25,000. Addison Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. LRI Investments LLC purchased a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% in the third 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 during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $80.75 on Thursday. The firm’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $73.56. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock 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 fifty-two week low of $63.79 and a fifty-two week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were 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 of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CTSH shares. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. 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 note on Thursday, October 31st. 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 note on Tuesday, October 22nd. Finally, TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.