STF Management LP Sells 773 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

STF Management LP reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,190 shares of the information technology service provider’s stock after selling 773 shares during the quarter. STF Management LP’s holdings in Cognizant Technology Solutions were worth $555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Cognizant Technology Solutions by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after purchasing an additional 44,129 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $205,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Cognizant Technology Solutions by 26.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 840,359 shares of the information technology service provider’s stock worth $64,859,000 after buying an additional 174,020 shares during the period. Citizens Financial Group Inc. RI acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at $206,000. Finally, Moors & Cabot Inc. bought a new position in Cognizant Technology Solutions in the 3rd quarter worth $413,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Stock Up 1.5 %

Shares of NASDAQ CTSH opened at $78.71 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. 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 business has a fifty day moving average of $76.93 and a two-hundred day moving average of $73.15. The stock has a market cap of $39.03 billion, a PE ratio of 17.41, a PEG ratio of 2.10 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. 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.