Haverford Trust Co Purchases Shares of 2,592 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Haverford Trust Co acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,592 shares of the information technology service provider’s stock, valued at approximately $200,000.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 6,933,908 shares during the period. Pzena Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 11.7% during the 2nd 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 buying an additional 1,943,127 shares during the period. Boston Partners boosted its stake in Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after buying an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cognizant Technology Solutions by 1.7% in 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 during the period. Finally, Legal & General Group Plc raised its stake in 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 in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $80.77 on Friday. The firm’s 50 day simple moving average is $76.74 and its 200 day simple moving average is $72.70. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a market capitalization of $40.05 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.99 billion. During the same period last year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Analysts Set New Price Targets

CTSH has been the topic of several analyst reports. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.83.

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.