Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,514 shares of the information technology service provider’s stock, valued at approximately $734,000.

A number of other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of Cognizant Technology Solutions by 4.7% during the 1st quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock valued at $4,694,000 after buying an additional 2,907 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Cognizant Technology Solutions by 14.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after purchasing an additional 716 shares during the last quarter. Tidal Investments LLC boosted its position in Cognizant Technology Solutions by 61.8% during the first quarter. Tidal Investments LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,536,000 after purchasing an additional 13,189 shares during the period. Plato Investment Management Ltd increased its stake in shares of Cognizant Technology Solutions by 4,140.0% in the first quarter. Plato Investment Management Ltd now owns 1,060 shares of the information technology service provider’s stock worth $78,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $227,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $80.75 on Friday. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The company has a fifty day moving average of $77.35 and a 200-day moving average of $73.61. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent research reports. 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. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $79.47.

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.