Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Cognizant stake by 34,094.6% in the third quarter, ending with 127,204 shares valued at about $7.23 million.
• Institutional investors own 92.44% of Cognizant’s shares. Analysts’ consensus rating is Hold, with an average price target of $68.17.
• Cognizant beat quarterly estimates, reporting EPS of $1.49 and revenue of $5.66 billion, up 4.6% year over year. The company also announced a quarterly dividend of $0.33 per share.

Fulcrum Asset Management LLP lifted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 34,094.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 127,204 shares of the information technology service provider's stock after purchasing an additional 126,832 shares during the quarter. Fulcrum Asset Management LLP's holdings in Cognizant Technology Solutions were worth $7,230,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Cognizant Technology Solutions during the first quarter worth approximately $29,510,000. Artemis Investment Management LLP increased its position in shares of Cognizant Technology Solutions by 289.6% in the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider's stock worth $166,897,000 after acquiring an additional 2,159,704 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at $2,929,000. State of Alaska Department of Revenue raised its stake in shares of Cognizant Technology Solutions by 246.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 160,866 shares of the information technology service provider's stock valued at $9,240,000 after acquiring an additional 114,435 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Cognizant Technology Solutions by 752.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,317,166 shares of the information technology service provider's stock valued at $80,808,000 after acquiring an additional 1,162,580 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTSH. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions in a research report on Friday, September 18th. Robert W. Baird set a $68.00 price objective on Cognizant Technology Solutions in a research report on Thursday, July 30th. Susquehanna set a $82.00 price objective on Cognizant Technology Solutions and gave the stock a "positive" rating in a research note on Thursday, July 30th. Daiwa Securities Group upped their target price on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, September 25th. Finally, Mizuho set a $69.00 target price on Cognizant Technology Solutions in a research note on Monday, November 2nd. Ten analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.17.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $64.72 on Monday. The stock has a market cap of $29.15 billion, a P/E ratio of 11.81, a PEG ratio of 1.28 and a beta of 0.83. The company's fifty day simple moving average is $62.46 and its 200-day simple moving average is $58.80. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.03. Cognizant Technology Solutions had a net margin of 11.75% and a return on equity of 17.72%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the business earned $1.39 EPS. The business's revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.78 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 24.09%.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions is a professional services company that helps businesses use technology to modernize operations and develop digital capabilities. Its services include IT consulting, application development and maintenance, cloud and infrastructure services, data and artificial intelligence, engineering, and business process services.

The company serves clients across industries including financial services, healthcare, manufacturing, communications, media, and retail. Its operations span North America, Europe, and Asia-Pacific, with a significant global delivery network.

Cognizant was established in 1994 as a technology unit of Dun & Bradstreet and became an independent company in 1996.

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