Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Davis R M Inc.

Davis R M Inc. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,883 shares of the information technology service provider’s stock after selling 1,668 shares during the quarter. Davis R M Inc.’s holdings in Cognizant Technology Solutions were worth $683,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CTSH. Independent Advisor Alliance bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $328,000. Daiwa Securities Group Inc. raised its position in shares of Cognizant Technology Solutions by 5.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 107,396 shares of the information technology service provider’s stock valued at $8,259,000 after acquiring an additional 5,976 shares in the last quarter. Simplicity Wealth LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth $221,000. Sound View Wealth Advisors Group LLC boosted its holdings in Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock worth $222,000 after purchasing an additional 127 shares during the period. Finally, Lifeworks Advisors LLC increased its stake in Cognizant Technology Solutions by 18.9% during the fourth quarter. Lifeworks Advisors LLC now owns 4,249 shares of the information technology service provider’s stock valued at $327,000 after purchasing an additional 676 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTSH. Morgan Stanley raised their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, UBS Group upped their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $83.67.

Cognizant Technology Solutions Stock Down 1.8 %

Shares of CTSH stock opened at $82.47 on Wednesday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The business’s fifty day moving average is $82.23 and its 200-day moving average is $79.38. The stock has a market cap of $40.79 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. Equities 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.50%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

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.