NorthCoast Asset Management LLC Has $1.96 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NorthCoast Asset Management LLC trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 44.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,371 shares of the information technology service provider’s stock after selling 21,025 shares during the period. NorthCoast Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $1,959,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Iowa State Bank grew its stake in shares of Cognizant Technology Solutions by 26.6% during the 3rd quarter. Iowa State Bank now owns 25,001 shares of the information technology service provider’s stock worth $1,855,000 after acquiring an additional 5,246 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Cognizant Technology Solutions by 20.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 70,441 shares of the information technology service provider’s stock worth $5,228,000 after acquiring an additional 11,890 shares in the last quarter. Triodos Investment Management BV grew its stake in shares of Cognizant Technology Solutions by 5.1% during the 3rd quarter. Triodos Investment Management BV now owns 331,340 shares of the information technology service provider’s stock worth $24,589,000 after acquiring an additional 16,000 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Cognizant Technology Solutions by 17.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,647 shares of the information technology service provider’s stock worth $1,160,000 after acquiring an additional 2,359 shares in the last quarter. Finally, Pensionfund Sabic grew its stake in shares of Cognizant Technology Solutions by 17.9% during the 3rd quarter. Pensionfund Sabic now owns 33,000 shares of the information technology service provider’s stock worth $2,449,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 6,422 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $80.87, for a total value of $519,347.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

CTSH opened at $86.24 on Tuesday. The company has a market capitalization of $45.30 billion, a P/E ratio of 21.29, a P/E/G ratio of 1.74 and a beta of 1.14. The stock has a fifty day moving average of $86.13 and a 200-day moving average of $80.46. Cognizant Technology Solutions Co. has a fifty-two week low of $66.19 and a fifty-two week high of $92.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.11 and a current ratio of 2.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. Cognizant Technology Solutions’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Friday, February 18th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, February 17th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. Cognizant Technology Solutions’s payout ratio is 23.70%.

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Sunday, January 9th. They set a “buy” rating and a $104.00 price target for the company. Cowen raised their target price on shares of Cognizant Technology Solutions from $93.00 to $98.00 in a research note on Thursday, February 3rd. Citigroup cut shares of Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and raised their target price for the company from $93.00 to $95.00 in a research note on Friday, January 14th. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $81.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Buy” and an average target price of $92.13.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.

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