Deutsche Bank AG Has $175.07 Million Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Deutsche Bank AG reduced its stake in Cognizant Technology Solutions by 30.7%, owning approximately 2.29 million shares, valued at about $175.07 million.
• Cognizant recently reported earnings exceeding analyst expectations with $1.31 EPS, and a revenue of $5.25 billion, which is an 8.1% increase year-over-year.
• The company declared a quarterly dividend of $0.31 per share, with an annualized yield of 1.8%, reflecting a payout ratio of 25.2%.

Deutsche Bank AG reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,288,453 shares of the information technology service provider's stock after selling 1,014,902 shares during the period. Deutsche Bank AG owned approximately 0.46% of Cognizant Technology Solutions worth $175,067,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 117.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock valued at $520,651,000 after purchasing an additional 3,677,145 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cognizant Technology Solutions by 2,585.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock valued at $135,910,000 after buying an additional 1,710,433 shares during the last quarter. AE Industrial Partners LP acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $113,088,000. Capital Research Global Investors grew its holdings in Cognizant Technology Solutions by 98.9% during the 4th quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock worth $210,894,000 after acquiring an additional 1,363,570 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cognizant Technology Solutions by 9,072.9% during the first quarter. GAMMA Investing LLC now owns 922,514 shares of the information technology service provider's stock valued at $70,572,000 after acquiring an additional 912,457 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CTSH. Deutsche Bank Aktiengesellschaft began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective on the stock. Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Friday, July 18th. Finally, TD Securities increased their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Stock Up 0.7%

Shares of CTSH stock traded up $0.46 on Friday, reaching $69.58. 2,770,882 shares of the company were exchanged, compared to its average volume of 4,211,431. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average of $76.92 and a 200-day moving average of $78.32. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.45 and a beta of 0.90. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82.

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 (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. The company's quarterly revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.31 per share. 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 25.20%.

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.