DRW Securities LLC Lowers Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

DRW Securities LLC cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 23.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,969 shares of the information technology service provider’s stock after selling 920 shares during the quarter. DRW Securities LLC’s holdings in Cognizant Technology Solutions were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Cognizant Technology Solutions in the second quarter worth $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the 1st quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $30,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of CTSH stock opened at $80.75 on Thursday. The company has a market capitalization of $40.04 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The business’s fifty day moving average is $77.24 and its 200 day moving average is $73.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen raised 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, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.47.

About Cognizant Technology Solutions

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.