Charles Schwab Investment Management Inc. Has $259.65 Million Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Cognizant Technology Solutions by 1.4%, now owning 3,394,114 shares valued at approximately $259.65 million.
• Goldman Sachs Group Inc. and Pacer Advisors Inc. have significantly raised their stakes by 117.5% and 2,585% respectively, indicating strong interest from institutional investors.
• The company reported earnings per share of $1.31 for the last quarter, beating estimates, along with a revenue of $5.25 billion, which surpassed expectations of $5.17 billion.

Charles Schwab Investment Management Inc. increased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,394,114 shares of the information technology service provider's stock after acquiring an additional 46,012 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Cognizant Technology Solutions worth $259,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $36,000. CoreCap Advisors LLC increased its stake in Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after acquiring an additional 126 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $55,000. Optiver Holding B.V. purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $66,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Cognizant Technology Solutions by 290.9% in the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock worth $69,000 after acquiring an additional 669 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. TD Securities raised their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Finally, Evercore ISI initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $86.56.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded up $0.46 during trading hours on Friday, reaching $69.58. 2,770,882 shares of the company were exchanged, compared to its average volume of 4,211,431. The stock's fifty day moving average is $76.92 and its two-hundred day moving average is $78.32. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.45 and a beta of 0.90. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company posted $1.17 EPS. Cognizant Technology Solutions's revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. Cognizant Technology Solutions's payout ratio is presently 25.20%.

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.