2,756 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Olympiad Research LP

Olympiad Research LP acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,756 shares of the information technology service provider’s stock, valued at approximately $212,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions during the third quarter worth approximately $30,000. Trust Co. of Vermont lifted its position in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares in the last quarter. Eastern Bank acquired a new stake in Cognizant Technology Solutions during the third quarter worth $37,000. Finally, Spire Wealth Management increased its stake in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTSH shares. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley raised their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group raised their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Trading Down 3.1 %

CTSH opened at $84.82 on Monday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock has a market capitalization of $41.95 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The business has a fifty day moving average price of $81.11 and a 200 day moving average price of $78.65.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.46%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Insider Buying and Selling

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. 0.26% of the stock is currently 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.