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TD Asset Management Inc Decreases Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Cognizant Technology Solutions logo with Computer and Technology background

Key Points

  • TD Asset Management Inc has reduced its stake in Cognizant Technology Solutions Corporation by 7.6%, now owning approximately 306,039 shares valued at about $23.4 million.
  • Analysts have given Cognizant a mixed outlook, with 13 analysts rating it as "hold" and 7 as "buy," along with an average target price of $85.88.
  • The company's stock trades at $74.91 with a market capitalization of $36.93 billion, having a price-to-earnings ratio of 15.77.
  • Five stocks to consider instead of Cognizant Technology Solutions.

TD Asset Management Inc lessened its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 306,039 shares of the information technology service provider's stock after selling 25,309 shares during the period. TD Asset Management Inc owned approximately 0.06% of Cognizant Technology Solutions worth $23,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. Brighton Jones LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $214,000. LPL Financial LLC boosted its stake in shares of Cognizant Technology Solutions by 36.4% in the 4th quarter. LPL Financial LLC now owns 260,691 shares of the information technology service provider's stock valued at $20,047,000 after purchasing an additional 69,509 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Cognizant Technology Solutions by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 33,859 shares of the information technology service provider's stock valued at $2,604,000 after purchasing an additional 204 shares in the last quarter. Allianz SE purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $184,000. Finally, Schroder Investment Management Group boosted its stake in shares of Cognizant Technology Solutions by 100.0% in the 4th quarter. Schroder Investment Management Group now owns 284,553 shares of the information technology service provider's stock valued at $21,839,000 after purchasing an additional 142,305 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of research reports. TD Securities upped their price objective on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Barclays cut their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Friday, July 18th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $85.88.

Get Our Latest Stock Report on CTSH

Cognizant Technology Solutions Stock Down 1.6%

Shares of Cognizant Technology Solutions stock traded down $1.17 during trading on Friday, hitting $70.59. The company's stock had a trading volume of 5,356,605 shares, compared to its average volume of 3,446,974. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.41. The company has a fifty day simple moving average of $77.93 and a two-hundred day simple moving average of $78.60. The company has a market capitalization of $34.80 billion, a PE ratio of 14.35, a P/E/G ratio of 1.52 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82.

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 analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. Cognizant Technology Solutions's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed 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 dividend payout ratio (DPR) is currently 25.20%.

About Cognizant Technology Solutions

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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