Hotchkis & Wiley Capital Management LLC Reduces Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,079,910 shares of the information technology service provider’s stock after selling 6,515 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $83,347,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CTSH. Centiva Capital LP acquired a new position in Cognizant Technology Solutions during the third quarter worth $1,712,000. Benjamin Edwards Inc. raised its position in shares of Cognizant Technology Solutions by 7,116.3% in the third quarter. Benjamin Edwards Inc. now owns 38,463 shares of the information technology service provider’s stock valued at $2,969,000 after buying an additional 37,930 shares in the last quarter. Point72 Europe London LLP acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $679,000. Fiduciary Trust Co raised its holdings in Cognizant Technology Solutions by 0.3% during the 3rd quarter. Fiduciary Trust Co now owns 78,175 shares of the information technology service provider’s stock worth $6,034,000 after purchasing an additional 210 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after acquiring an additional 978,579 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho raised their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target 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. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $80.82 on Tuesday. The firm’s 50 day moving average is $77.45 and its two-hundred day moving average is $73.78. The firm has a market capitalization of $40.07 billion, a P/E ratio of 17.88, a PEG ratio of 2.22 and a beta of 1.06. 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 52 week low of $63.79 and a 52 week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.48%. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.