Foster & Motley Inc. Has $4.64 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Foster & Motley Inc. grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.9% during the 3rd quarter, Holdings Channel reports. The firm owned 60,150 shares of the information technology service provider’s stock after purchasing an additional 5,905 shares during the quarter. Foster & Motley Inc.’s holdings in Cognizant Technology Solutions were worth $4,642,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the second quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Eastern Bank acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $37,000. Finally, Benjamin Edwards Inc. raised its position in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.36 on Wednesday. The stock has a market cap of $38.34 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The stock has a 50-day moving average of $76.28 and a 200-day moving average of $72.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share 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 company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTSH. 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 report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price 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. Robert W. Baird increased their price target 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.37.

About Cognizant Technology Solutions

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.