Cognizant Technology Solutions Corporation $CTSH Stock: Fulcrum Asset Management LLP Boosts Position

Fulcrum Asset Management LLP raised its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 34,094.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,204 shares of the information technology service provider’s stock after purchasing an additional 126,832 shares during the period. Fulcrum Asset Management LLP’s holdings in Cognizant Technology Solutions were worth $7,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTSH. Dimensional Fund Advisors LP grew its position in shares of Cognizant Technology Solutions by 3.6% during 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 buying an additional 222,819 shares in the last quarter. Amundi increased its stake in shares of Cognizant Technology Solutions by 9.2% in the first quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock worth $379,013,000 after buying an additional 520,532 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Cognizant Technology Solutions by 925.5% in the second quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock worth $141,456,000 after buying an additional 3,296,205 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of 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 worth $213,004,000 after buying an additional 742,466 shares during the last quarter. Finally, Artemis Investment Management LLP raised 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 in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, October 9th. Daiwa Securities Group raised their price objective on shares of Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. Wells Fargo & Company boosted their target price on shares of Cognizant Technology Solutions from $67.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Robert W. Baird set a $68.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions in a research report on Friday, September 18th. Ten research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.17.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $64.72 on Monday. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.28 and a beta of 0.83. The stock has a 50 day moving average of $62.46 and a 200-day moving average of $58.80. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.11. 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 issued its quarterly earnings results 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 business had revenue of $5.66 billion during the quarter, compared to the consensus estimate 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 business earned $1.39 EPS. As a group, analysts forecast that Cognizant Technology Solutions Corporation will post 5.78 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 13th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 13th. Cognizant Technology Solutions’s payout ratio is currently 24.09%.

About Cognizant Technology Solutions

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.

Cognizant was established in 1994 as a technology unit of Dun & Bradstreet and became an independent company in 1996.