Empirical Finance LLC Buys 337 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Empirical Finance LLC grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,600 shares of the information technology service provider’s stock after purchasing an additional 337 shares during the quarter. Empirical Finance LLC’s holdings in Cognizant Technology Solutions were worth $1,358,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $1,972,000. Trinity Legacy Partners LLC grew its position in shares of Cognizant Technology Solutions by 14.3% in the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after purchasing an additional 7,547 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after purchasing an additional 412 shares during the period. Cetera Investment Advisers lifted its holdings in Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after purchasing an additional 19,157 shares during the last quarter. Finally, National Pension Service lifted its holdings in Cognizant Technology Solutions by 15.9% during the 3rd quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock worth $70,072,000 after purchasing an additional 124,740 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $78.83.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $77.11 on Friday. The company has a market cap of $38.23 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The business has a 50 day moving average price of $76.85 and a 200-day moving average price of $72.83.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio is currently 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.