Linscomb Wealth Inc. Has $2.06 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Linscomb Wealth Inc. cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,724 shares of the information technology service provider’s stock after selling 1,321 shares during the period. Linscomb Wealth Inc.’s holdings in Cognizant Technology Solutions were worth $2,063,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after acquiring an additional 6,933,908 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions by 11.7% during 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 during the period. Boston Partners raised its holdings in shares of Cognizant Technology Solutions by 1.3% during 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 period. Dimensional Fund Advisors LP raised 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 worth $378,483,000 after acquiring an additional 94,209 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after acquiring an additional 142,225 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock 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 debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a 50-day simple moving average of $76.85 and a 200 day simple moving average of $72.83. The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.27 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 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 previous year, the company earned $1.16 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s 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.