107,914 Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 176.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,002 shares of the information technology service provider’s stock after acquiring an additional 107,914 shares during the quarter. Ritholtz Wealth Management’s holdings in Cognizant Technology Solutions were worth $9,707,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Heritage Family Offices LLP bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth $29,000. Marquette Asset Management LLC boosted its stake in shares of Cognizant Technology Solutions by 183.9% during the third quarter. Marquette Asset Management LLC now owns 545 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 353 shares during the period. Signature Equity Partners LLC grew its holdings in shares of Cognizant Technology Solutions by 102.4% in the first quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 303 shares during the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in shares of Cognizant Technology Solutions in the third quarter worth about $35,000. Finally, Alpine Bank Wealth Management purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth about $38,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $64.43 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.11. The firm has a market cap of $28.80 billion, a PE ratio of 11.76, a P/E/G ratio of 1.29 and a beta of 0.83. Cognizant Technology Solutions Corporation has a 12 month low of $37.08 and a 12 month high of $87.03. The stock has a fifty day moving average price of $62.48 and a 200-day moving average price of $58.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.03. Cognizant Technology Solutions had a return on equity of 17.72% and a net margin of 11.75%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.78 earnings per share 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 25th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. Cognizant Technology Solutions’s payout ratio is presently 24.09%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTSH. TD Cowen reaffirmed a “hold” rating and set a $60.00 price target (up from $54.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 13th. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research report on Thursday, July 30th. Daiwa Securities Group increased their price target on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Mizuho set a $69.00 price target on Cognizant Technology Solutions in a research note on Monday, November 2nd. Finally, Citigroup restated a “neutral” rating on shares of Cognizant Technology Solutions in a report on Monday, October 19th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $68.17.

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.