5,186 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Purchased by Merit Financial Group LLC

Merit Financial Group LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,186 shares of the information technology service provider’s stock, valued at approximately $399,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $1,972,000. Retirement Systems of Alabama boosted its stake in shares of Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Cognizant Technology Solutions by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after purchasing an additional 11,349 shares in the last quarter. Trinity Legacy Partners LLC raised its stake in Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after purchasing an additional 7,547 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Cognizant Technology Solutions by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock valued at $9,228,000 after purchasing an additional 6,626 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Stock Up 0.5 %

Shares of NASDAQ CTSH opened at $80.05 on Friday. 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 business’s 50 day moving average is $78.71 and its two-hundred day moving average is $76.75. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The firm has a market cap of $39.69 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.06 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) 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 the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.