First Hawaiian Bank Has $2.63 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

First Hawaiian Bank lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 34,258 shares of the information technology service provider’s stock after purchasing an additional 1,528 shares during the quarter. First Hawaiian Bank’s holdings in Cognizant Technology Solutions were worth $2,634,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth about $1,972,000. Retirement Systems of Alabama boosted its position in Cognizant Technology Solutions by 3.5% during the 3rd 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. grew its stake in shares of Cognizant Technology Solutions by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after acquiring an additional 11,349 shares in the last quarter. Trinity Legacy Partners LLC raised its holdings in shares of Cognizant Technology Solutions by 14.3% in the third 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 position in shares of Cognizant Technology Solutions by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after purchasing an additional 6,626 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho raised their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, December 31st. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.19.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $76.02 on Thursday. The business’s 50 day moving average is $78.98 and its 200-day moving average is $76.09. The firm has a market cap of $37.69 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

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 for the quarter, topping 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 business earned $1.16 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s payout ratio is presently 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.