Invesco Ltd. Has $923.93 Million Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Invesco Ltd. increased its stake in Cognizant Technology Solutions by 13.3%, acquiring an additional 1,422,265 shares, bringing its total holdings to 12,077,445 shares valued at approximately $923.9 million.
• Several brokerage firms have recently updated their ratings on Cognizant, with Susquehanna upgrading the stock from "neutral" to "positive" and raising its price target from $77.00 to $90.00.
• Cognizant announced a quarterly dividend of $0.31 per share, resulting in an annualized dividend of $1.24 and a yield of 1.8%, with a payout ratio of 25.20%.

Invesco Ltd. raised its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,077,445 shares of the information technology service provider's stock after acquiring an additional 1,422,265 shares during the period. Invesco Ltd. owned about 2.44% of Cognizant Technology Solutions worth $923,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $36,000. CoreCap Advisors LLC boosted its position 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 valued at $55,000 after purchasing an additional 126 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $55,000. Optiver Holding B.V. acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $66,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cognizant Technology Solutions during the first quarter valued at approximately $66,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent research reports. Robert W. Baird increased their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 price target for the company. Barclays reduced their price target on 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. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target 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. Thirteen investment 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 company currently has an average rating of "Hold" and an average price target of $86.56.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded up $0.70 during midday trading on Wednesday, hitting $69.47. The company's stock had a trading volume of 727,967 shares, compared to its average volume of 3,838,753. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company's fifty day simple moving average is $76.47 and its two-hundred day simple moving average is $78.18. 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 stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data 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. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the business posted $1.17 EPS. Cognizant Technology Solutions's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share 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 issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 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.