LSV Asset Management Has $115.08 Million Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• LSV Asset Management has decreased its stake in Cognizant Technology Solutions by 4.0%, bringing its ownership to approximately 1.5 million shares valued at $115 million.
• Cognizant Technology Solutions exceeded earnings expectations with $1.31 per share for the last quarter, surpassing the consensus estimate of $1.26.
• The stock currently holds a consensus target price of $85.88 with the majority of analysts rating it as a "Hold."

LSV Asset Management reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,504,330 shares of the information technology service provider's stock after selling 62,792 shares during the period. LSV Asset Management owned approximately 0.30% of Cognizant Technology Solutions worth $115,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $214,000. Huntington National Bank raised its holdings in Cognizant Technology Solutions by 12.6% in the 4th quarter. Huntington National Bank now owns 7,329 shares of the information technology service provider's stock valued at $564,000 after acquiring an additional 823 shares in the last quarter. World Investment Advisors raised its holdings in Cognizant Technology Solutions by 17.3% in the 4th quarter. World Investment Advisors now owns 6,607 shares of the information technology service provider's stock valued at $508,000 after acquiring an additional 973 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $408,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $13,747,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.8%

Shares of CTSH stock traded down $1.26 on Tuesday, hitting $70.01. The company had a trading volume of 1,264,870 shares, compared to its average volume of 3,802,017. The firm has a market cap of $34.51 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.47 and a beta of 0.90. The stock's 50-day moving average is $77.78 and its two-hundred day moving average is $78.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82.

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

Cognizant Technology Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lowered their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. TD Securities boosted their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target for the company. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.88.

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.