Comgest Global Investors S.A.S. Cuts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Comgest Global Investors S.A.S. lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 57.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,712 shares of the information technology service provider’s stock after selling 200,791 shares during the period. Comgest Global Investors S.A.S.’s holdings in Cognizant Technology Solutions were worth $11,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Addison Advisors LLC grew its stake in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at about $25,000. LRI Investments LLC purchased a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. grew its stake 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 valued at $35,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $3.66 during trading hours on Friday, reaching $77.11. The stock had a trading volume of 5,411,813 shares, compared to its average volume of 3,826,356. 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 Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The firm has a 50-day simple moving average of $76.85 and a 200-day simple moving average of $72.83. The firm has a market capitalization of $38.23 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.

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

Cognizant Technology Solutions Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTSH shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.83.

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.