McKinley Carter Wealth Services Inc. bought a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 36,391 shares of the information technology service provider’s stock, valued at approximately $2,808,000.

Several other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Cognizant Technology Solutions by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 910,265 shares of the information technology service provider’s stock worth $73,277,000 after buying an additional 15,087 shares in the last quarter. Genesis Asset Managers LLP raised its holdings in Cognizant Technology Solutions by 25.2% during the 2nd quarter. Genesis Asset Managers LLP now owns 2,903,755 shares of the information technology service provider’s stock worth $229,368,000 after purchasing an additional 584,909 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Cognizant Technology Solutions by 7.8% during the 2nd quarter. Raymond James Trust N.A. now owns 9,568 shares of the information technology service provider’s stock worth $756,000 after purchasing an additional 693 shares during the last quarter. Manning & Napier Group LLC bought a new stake in Cognizant Technology Solutions during the 2nd quarter worth about $240,000. Finally, Hartwell J M Limited Partnership raised its holdings in Cognizant Technology Solutions by 1.8% during the 2nd quarter. Hartwell J M Limited Partnership now owns 396,936 shares of the information technology service provider’s stock worth $31,354,000 after purchasing an additional 7,090 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Shares of CTSH stock opened at $70.34 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $41.34 billion, a PE ratio of 19.93, a P/E/G ratio of 1.31 and a beta of 0.96. Cognizant Technology Solutions Corp has a one year low of $65.14 and a one year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. Cognizant Technology Solutions’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be paid a $0.20 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.

In other news, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total value of $26,361.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Telesmanic sold 834 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $77.15, for a total value of $64,343.10. Following the completion of the sale, the senior vice president now directly owns 18,823 shares of the company’s stock, valued at $1,452,194.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,063 shares of company stock valued at $611,427. 0.60% of the stock is currently owned by company insiders.

Several brokerages have weighed in on CTSH. KeyCorp dropped their price objective on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, August 3rd. Wolfe Research began coverage on Cognizant Technology Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Bank of America dropped their price objective on Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a report on Friday, November 2nd. Finally, BMO Capital Markets cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $74.00 price objective for the company. in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions has an average rating of “Buy” and a consensus price target of $84.42.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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