Napatree Capital LLC Invests $214,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Napatree Capital LLC bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,783 shares of the information technology service provider’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its holdings 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 in the last quarter. CGN Advisors LLC bought a new position in Cognizant Technology Solutions during the 4th quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd grew its holdings in Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after acquiring an additional 144,535 shares in the last quarter. Todd Asset Management LLC grew its holdings in Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after acquiring an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after acquiring an additional 17,134 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $76.42 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a 50 day simple moving average of $82.66 and a two-hundred day simple moving average of $79.47. The stock has a market cap of $37.80 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.62%. 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%.

Wall Street Analyst Weigh In

CTSH has been the topic of several recent research reports. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada lifted their price objective on shares of 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Finally, BMO Capital Markets lifted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.71.

Cognizant Technology Solutions 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.