Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Position Lifted by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,929,239 shares of the information technology service provider’s stock after purchasing an additional 11,024 shares during the quarter. Cognizant Technology Solutions makes up 1.3% of Cibc World Markets Corp’s portfolio, making the stock its 13th largest holding. Cibc World Markets Corp’s holdings in Cognizant Technology Solutions were worth $225,258,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $28,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $36,000. Spire Wealth Management lifted its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $79.12 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The stock’s 50-day moving average is $82.38 and its two-hundred day moving average is $79.42. The firm has a market cap of $39.13 billion, a P/E ratio of 17.54, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group upped their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley reduced their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.39.

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.