Artemis Investment Management LLP lifted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 289.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,905,584 shares of the information technology service provider’s stock after purchasing an additional 2,159,704 shares during the period. Cognizant Technology Solutions accounts for about 1.3% of Artemis Investment Management LLP’s portfolio, making the stock its 16th largest position. Artemis Investment Management LLP owned 0.65% of Cognizant Technology Solutions worth $166,897,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CTSH. City Center Advisors LLC bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth about $277,000. Red Spruce Capital LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $447,000. Wealth Enhancement Trust Services Inc. lifted its holdings in Cognizant Technology Solutions by 84.3% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 2,267 shares of the information technology service provider’s stock worth $130,000 after buying an additional 1,037 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Cognizant Technology Solutions by 228.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 6,865 shares of the information technology service provider’s stock valued at $394,000 after buying an additional 4,778 shares during the period. Finally, CX Institutional raised its position in shares of Cognizant Technology Solutions by 19.0% during the third quarter. CX Institutional now owns 161,341 shares of the information technology service provider’s stock worth $9,245,000 after acquiring an additional 25,805 shares during the last quarter. 92.44% of the stock is owned by institutional investors.
Cognizant Technology Solutions Trading Up 1.4%
Cognizant Technology Solutions stock traded up $0.77 during mid-day trading on Thursday, hitting $57.84. 4,546,470 shares of the company’s stock were exchanged, compared to its average volume of 8,038,228. The company’s 50 day simple moving average is $59.60 and its 200-day simple moving average is $54.35. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $26.05 billion, a P/E ratio of 12.44, a PEG ratio of 1.07 and a beta of 0.86. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03.
Cognizant Technology Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.39%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on CTSH shares. Royal Bank Of Canada set a $55.00 price objective on Cognizant Technology Solutions in a research report on Friday, July 24th. Robert W. Baird set a $68.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Wedbush reiterated an “outperform” rating and set a $70.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, October 2nd. Susquehanna set a $82.00 price target on Cognizant Technology Solutions and gave the company a “positive” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price objective on Cognizant Technology Solutions from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $64.43.
Read Our Latest Stock Analysis on Cognizant Technology Solutions
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.
The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.
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