Luken Investment Analytics LLC Has $45,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Luken Investment Analytics LLC decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 50.0% during the third quarter, Holdings Channel.com reports. The firm owned 581 shares of the information technology service provider’s stock after selling 581 shares during the period. Luken Investment Analytics LLC’s holdings in Cognizant Technology Solutions were worth $45,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTSH. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after buying an additional 6,933,908 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Boston Partners boosted its position in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTSH. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, twenty have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.70.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded up $0.02 during trading hours on Friday, reaching $74.61. The stock had a trading volume of 4,101,237 shares, compared to its average volume of 3,827,082. The company has a market cap of $36.98 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.05. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The business’s fifty day moving average is $76.36 and its two-hundred day moving average is $71.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $5.04 billion during 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 17.37%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

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.