Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,758 shares of the information technology service provider’s stock after buying an additional 3,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cognizant Technology Solutions were worth $7,961,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $28,000. Trust Co. of Vermont grew its holdings 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 acquiring an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $36,000. Spire Wealth Management boosted its position in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $79.12 on Friday. 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 firm has a market cap of $39.13 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.11 and a beta of 1.12. The business’s fifty day moving average is $82.38 and its two-hundred day moving average is $79.41. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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%. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group increased their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Morgan Stanley decreased their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective 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. Sixteen investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $83.39.

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.