Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 27.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,468 shares of the information technology service provider’s stock after buying an additional 318 shares during the quarter. Lindbrook Capital LLC’s holdings in Cognizant Technology Solutions were worth $111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $27,000. Valley National Advisers Inc. increased its holdings in shares of Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. Exchange Traded Concepts LLC raised its position in Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $67.77 on Wednesday. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The business’s 50 day simple moving average is $74.13 and its 200-day simple moving average is $72.58. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the business earned $1.01 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a $0.30 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. Cognizant Technology Solutions’s payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of research firms have commented on CTSH. Mizuho assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective on the stock. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. Guggenheim started coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company. Barclays lifted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 23rd. Finally, Susquehanna restated a “neutral” rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.44.

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.