OneAscent Financial Services LLC Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

OneAscent Financial Services LLC bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,061 shares of the information technology service provider’s stock, valued at approximately $236,000.

Other large investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its stake in shares of Cognizant Technology Solutions by 2.5% in the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in Cognizant Technology Solutions by 7.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 6,878 shares of the information technology service provider’s stock worth $504,000 after acquiring an additional 500 shares during the last quarter. MQS Management LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at about $458,000. Shell Asset Management Co. grew its position in shares of Cognizant Technology Solutions by 26.5% in the first quarter. Shell Asset Management Co. now owns 39,875 shares of the information technology service provider’s stock valued at $2,922,000 after purchasing an additional 8,355 shares during the last quarter. Finally, Linscomb Wealth Inc. increased its stake in shares of Cognizant Technology Solutions by 0.8% in the first quarter. Linscomb Wealth Inc. now owns 26,898 shares of the information technology service provider’s stock worth $1,971,000 after purchasing an additional 201 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $76.32 on Wednesday. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The business’s fifty day moving average price is $76.86 and its two-hundred day moving average price is $73.08. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm 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. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTSH. Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Barclays upped their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Mizuho raised their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.