B. Metzler seel. Sohn & Co. Holding AG Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,173 shares of the information technology service provider’s stock, valued at approximately $1,403,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTSH. Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Benjamin Edwards Inc. increased its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares in the last quarter. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the period. Meeder Asset Management Inc. lifted its position in Cognizant Technology Solutions by 32.5% during the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock valued at $61,000 after buying an additional 193 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $79.54 on Friday. The stock’s 50 day simple moving average is $76.98 and its 200 day simple moving average is $73.24. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The firm has a market cap of $39.44 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.10 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CTSH shares. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Mizuho lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.47.

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.