Intellus Advisors LLC Buys Shares of 142,457 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Intellus Advisors LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 142,457 shares of the information technology service provider’s stock, valued at approximately $10,955,000. Cognizant Technology Solutions comprises 1.9% of Intellus Advisors LLC’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Spire Wealth Management lifted its holdings 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 buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. UBS Group reduced their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Morgan Stanley reduced their price objective 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, Barclays lifted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $76.42 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 stock has a fifty day moving average of $82.66 and a two-hundred day moving average of $79.43. The company has a market capitalization 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 Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82.

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 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, analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. 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. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

About Cognizant Technology Solutions

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.