Goodman Financial Corp Has $14.64 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Goodman Financial Corp reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 189,625 shares of the information technology service provider’s stock after selling 650 shares during the quarter. Cognizant Technology Solutions makes up 3.3% of Goodman Financial Corp’s portfolio, making the stock its 10th biggest position. Goodman Financial Corp’s holdings in Cognizant Technology Solutions were worth $14,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Price T Rowe Associates Inc. MD increased its position in Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after buying an additional 1,073,666 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Cognizant Technology Solutions by 4.7% in the 1st quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock worth $4,694,000 after acquiring an additional 2,907 shares during the period. Dynasty Wealth Management LLC bought a new stake in Cognizant Technology Solutions in the 1st quarter valued at about $680,000. B. Riley Wealth Advisors Inc. boosted its stake in Cognizant Technology Solutions by 14.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after purchasing an additional 716 shares during the period. Finally, California State Teachers Retirement System grew its position in Cognizant Technology Solutions by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 817,227 shares of the information technology service provider’s stock worth $59,895,000 after purchasing an additional 4,165 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the subject of several analyst reports. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of Cognizant Technology Solutions stock opened at $80.85 on Tuesday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The firm has a market capitalization of $40.09 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $77.03 and its 200-day moving average is $73.41.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Cognizant Technology Solutions Company 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.