Dearborn Partners LLC Lowers Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dearborn Partners LLC trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,923 shares of the information technology service provider’s stock after selling 725 shares during the period. Dearborn Partners LLC’s holdings in Cognizant Technology Solutions were worth $534,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 11.7% in the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Boston Partners grew its stake in shares of Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cognizant Technology Solutions by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after acquiring an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 4.5 %

NASDAQ CTSH opened at $77.11 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 quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The stock’s 50-day moving average price is $76.82 and its 200-day moving average price is $72.75.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results 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 company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. Cognizant Technology Solutions’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Mizuho boosted their price objective 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. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.83.

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.