10,614 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Stevens Capital Management LP

Stevens Capital Management LP acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,614 shares of the information technology service provider’s stock, valued at approximately $816,000.

Several other large investors also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its holdings in Cognizant Technology Solutions by 17.8% in the third quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock valued at $2,001,000 after purchasing an additional 3,917 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $1,403,000. PNC Financial Services Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock valued at $9,228,000 after buying an additional 6,626 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $734,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Cognizant Technology Solutions by 5.0% in the third quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider’s stock worth $435,000 after buying an additional 269 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $76.42 on Friday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $37.80 billion, a PE ratio of 16.94, a P/E/G ratio of 2.11 and a beta of 1.12. The stock has a 50 day simple moving average of $82.66 and a 200-day simple moving average of $79.45.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current 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 given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTSH. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday. Barclays lifted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. UBS Group cut their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Morgan Stanley lowered their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $83.71.

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.