Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Acquired by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC increased its stake in Cognizant Technology Solutions by 3.3% during Q1, now owning approximately 450,859 shares valued at $34.49 million.
• Analyst upgrades have seen cognizant raised to a "buy" rating by Guggenheim and a price target set at $90.00, indicating positive outlook from analysts.
• Cognizant recently reported earnings of $1.31 per share, surpassing estimates, with revenue growth of 8.1% compared to the same quarter last year.

Todd Asset Management LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,859 shares of the information technology service provider's stock after buying an additional 14,350 shares during the quarter. Todd Asset Management LLC owned approximately 0.09% of Cognizant Technology Solutions worth $34,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after purchasing an additional 1,422,265 shares during the period. Goldman Sachs Group Inc. increased 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 worth $520,651,000 after purchasing an additional 3,677,145 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cognizant Technology Solutions by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock worth $461,439,000 after purchasing an additional 392,429 shares during the last quarter. Northern Trust Corp boosted its stake in Cognizant Technology Solutions by 16.2% in the 4th quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock valued at $458,340,000 after purchasing an additional 831,276 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cognizant Technology Solutions by 7.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,373,164 shares of the information technology service provider's stock valued at $336,296,000 after buying an additional 309,919 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 1.5%

NASDAQ CTSH traded down $1.05 on Thursday, reaching $69.37. 2,885,671 shares of the company were exchanged, compared to its average volume of 3,873,405. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The stock has a market capitalization of $33.88 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The business's fifty day moving average price is $76.28 and its 200 day moving average price is $78.13. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its 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 business had revenue of $5.25 billion during 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 business's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. Analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business 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 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 is 25.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTSH shares. Robert W. Baird upped 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 note on Thursday, May 1st. Barclays cut their target price 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. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target on the stock. Wall Street Zen downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $86.56.

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.