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

Private Trust Co. NA boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,694 shares of the information technology service provider’s stock after buying an additional 380 shares during the quarter. Private Trust Co. NA’s holdings in Cognizant Technology Solutions were worth $131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its stake in shares of Cognizant Technology Solutions by 51.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,832 shares of the information technology service provider’s stock worth $1,762,000 after acquiring an additional 7,787 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Cognizant Technology Solutions by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after purchasing an additional 11,349 shares during the last quarter. Marco Investment Management LLC grew its position in Cognizant Technology Solutions by 4.0% in the 3rd quarter. Marco Investment Management LLC now owns 48,845 shares of the information technology service provider’s stock worth $3,770,000 after purchasing an additional 1,900 shares during the period. Hartford Funds Management Co LLC raised its stake in Cognizant Technology Solutions by 7.5% during the 3rd quarter. Hartford Funds Management Co LLC now owns 14,713 shares of the information technology service provider’s stock valued at $1,136,000 after buying an additional 1,029 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 7.7% during the 3rd quarter. Summit Trail Advisors LLC now owns 10,367 shares of the information technology service provider’s stock valued at $800,000 after buying an additional 744 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $80.49 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.23 and a beta of 1.05. The firm has a fifty day moving average price of $77.45 and a 200 day moving average price of $73.70. 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 (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Robert W. Baird raised their price objective 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. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, 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.