Eurizon Capital SGR S.p.A. Sells 314,033 Shares of Cognizant Technology Solutions Corporation $CTSH

Eurizon Capital SGR S.p.A. trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 30.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 705,842 shares of the information technology service provider’s stock after selling 314,033 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Cognizant Technology Solutions were worth $40,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Cognizant Technology Solutions by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider’s stock worth $392,947,000 after acquiring an additional 222,819 shares during the period. Amundi increased its position in Cognizant Technology Solutions by 9.2% during the first quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock valued at $379,013,000 after acquiring an additional 520,532 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Cognizant Technology Solutions by 27.2% in the first quarter. Hsbc Holdings PLC now owns 3,471,681 shares of the information technology service provider’s stock valued at $213,004,000 after acquiring an additional 742,466 shares during the period. Artemis Investment Management LLP lifted its holdings in Cognizant Technology Solutions by 289.6% in the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock valued at $166,897,000 after acquiring an additional 2,159,704 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Cognizant Technology Solutions by 25.8% in the first quarter. Pacer Advisors Inc. now owns 2,442,902 shares of the information technology service provider’s stock worth $149,872,000 after purchasing an additional 500,886 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTSH. Daiwa Securities Group boosted their price target on Cognizant Technology Solutions from $42.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Susquehanna set a $82.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “positive” rating in a research note on Thursday, July 30th. Robert W. Baird set a $68.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Morgan Stanley cut their target price on shares of Cognizant Technology Solutions from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, October 30th. Finally, Deutsche Bank cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $66.00 in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.00.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $63.01 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $62.46 and a two-hundred day simple moving average of $58.29. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.26 and a beta of 0.83. Cognizant Technology Solutions Corporation has a 52 week low of $37.08 and a 52 week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Cognizant Technology Solutions had a return on equity of 17.72% and a net margin of 11.75%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post 5.78 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a yield of 2.1%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 24.09%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions is a professional services company that helps businesses use technology to modernize operations and develop digital capabilities. Its services include IT consulting, application development and maintenance, cloud and infrastructure services, data and artificial intelligence, engineering, and business process services. The company serves clients across industries including financial services, healthcare, manufacturing, communications, media, and retail. Its operations span North America, Europe, and Asia-Pacific, with a significant global delivery network.