Diversified Trust Co lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,011 shares of the information technology service provider’s stock after buying an additional 1,509 shares during the quarter. Diversified Trust Co’s holdings in Cognizant Technology Solutions were worth $687,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in Cognizant Technology Solutions during the 1st quarter worth about $256,000. Canada Pension Plan Investment Board raised its holdings in Cognizant Technology Solutions by 84.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after purchasing an additional 123,220 shares during the last quarter. Cetera Investment Advisers raised its holdings in Cognizant Technology Solutions by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after purchasing an additional 1,523 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Cognizant Technology Solutions during the 1st quarter worth about $239,000. Finally, Brighton Jones LLC raised its holdings in Cognizant Technology Solutions by 18.7% during the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after purchasing an additional 550 shares during the last quarter. 90.12% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have weighed in on CTSH shares. Wolfe Research cut Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $49.00 price objective for the company. in a report on Thursday, January 5th. Barclays boosted their target price on Cognizant Technology Solutions from $45.00 to $53.00 and gave the stock an “underweight” rating in a research report on Monday, February 6th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $54.00 to $67.00 in a research report on Friday, February 3rd. Finally, Moffett Nathanson lowered Cognizant Technology Solutions from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $70.00 to $60.00 in a research report on Thursday, January 19th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.90.
Cognizant Technology Solutions Trading Up 0.8 %
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Cognizant Technology Solutions had a return on equity of 18.92% and a net margin of 11.79%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.46 EPS for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 17th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, February 16th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. Cognizant Technology Solutions’s dividend payout ratio is currently 26.24%.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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