Headlands Technologies LLC Purchases 6,895 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Headlands Technologies LLC increased its stake in Cognizant Technology Solutions by 18.2%, acquiring an additional 6,895 shares worth approximately $3.42 million.
• Analysts have mixed views on Cognizant, with some firms like Barclays lowering their price targets, while others like Susquehanna raised their ratings on the stock, resulting in a consensus price target of $85.88.
• Cognizant recently reported quarterly earnings of $1.31 EPS, exceeding analyst expectations, and announced a dividend of $0.31, representing a yield of 1.7%.

Headlands Technologies LLC boosted its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,732 shares of the information technology service provider's stock after acquiring an additional 6,895 shares during the quarter. Headlands Technologies LLC's holdings in Cognizant Technology Solutions were worth $3,422,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTSH. Ontario Teachers Pension Plan Board raised its stake in shares of Cognizant Technology Solutions by 67.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,266 shares of the information technology service provider's stock worth $938,000 after purchasing an additional 4,942 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Cognizant Technology Solutions by 18.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,884 shares of the information technology service provider's stock worth $536,000 after buying an additional 1,061 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cognizant Technology Solutions by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,394,114 shares of the information technology service provider's stock worth $259,650,000 after buying an additional 46,012 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $5,845,000. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Citizens Financial Group Inc. RI now owns 3,420 shares of the information technology service provider's stock worth $262,000 after acquiring an additional 409 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, July 28th. Finally, Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their target price for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $85.88.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $70.90 on Thursday. The company's 50-day moving average price is $77.37 and its 200-day moving average price is $78.46. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. The company has a market cap of $34.95 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. 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 data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 earnings per share. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio is 25.20%.

About Cognizant Technology Solutions

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.

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