Clark Estates Inc. NY Has $2.96 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Clark Estates Inc. NY trimmed its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 38,300 shares of the information technology service provider’s stock after selling 3,100 shares during the quarter. Clark Estates Inc. NY’s holdings in Cognizant Technology Solutions were worth $2,956,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Cognizant Technology Solutions by 4.7% during the first quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock worth $4,694,000 after buying an additional 2,907 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 14.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after buying an additional 716 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Cognizant Technology Solutions by 0.5% during the first quarter. California State Teachers Retirement System now owns 817,227 shares of the information technology service provider’s stock worth $59,895,000 after acquiring an additional 4,165 shares in the last quarter. Tidal Investments LLC increased its position in shares of Cognizant Technology Solutions by 61.8% during the first quarter. Tidal Investments LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,536,000 after acquiring an additional 13,189 shares in the last quarter. Finally, LBP AM SA grew its holdings in shares of Cognizant Technology Solutions by 86.9% during the first quarter. LBP AM SA now owns 11,351 shares of the information technology service provider’s stock worth $832,000 after buying an additional 5,278 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CTSH. Mizuho increased their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, 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 note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of CTSH stock opened at $81.06 on Wednesday. The stock has a 50 day simple moving average of $77.13 and a 200 day simple moving average of $73.51. The stock has a market cap of $40.19 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41.

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 for the quarter, topping the consensus estimate 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 business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

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.