Tokio Marine Asset Management Co. Ltd. Boosts Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,510 shares of the information technology service provider’s stock after buying an additional 1,091 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $966,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of Cognizant Technology Solutions by 11.7% in the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after buying an additional 94,209 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after acquiring an additional 142,225 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH opened at $77.11 on Friday. The business has a fifty day simple moving average of $76.82 and a 200-day simple moving average of $72.75. The firm has a market cap of $38.23 billion, a PE ratio of 17.06, a P/E/G ratio of 2.27 and a beta of 1.05. 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 quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analysts Set New Price Targets

Several brokerages have recently commented on CTSH. Royal Bank of Canada lifted 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. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.83.

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.