1832 Asset Management L.P. Has $2.53 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

1832 Asset Management L.P. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,549 shares of the information technology service provider’s stock after buying an additional 3,341 shares during the quarter. 1832 Asset Management L.P.’s holdings in Cognizant Technology Solutions were worth $2,532,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. Spire Wealth Management boosted its holdings in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $40,000. Quarry LP acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $43,000. Finally, Valley National Advisers Inc. raised its stake in shares of Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CTSH shares. Susquehanna dropped their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective on the stock. Barclays lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.75.

Cognizant Technology Solutions Stock Up 1.9 %

Shares of NASDAQ:CTSH traded up $1.36 during trading on Friday, hitting $74.57. 5,127,144 shares of the company were exchanged, compared to its average volume of 3,727,941. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09. The stock has a market cap of $37.08 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.23 and a beta of 1.05. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $68.71 and a two-hundred day moving average price of $71.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

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.