Security National Bank of Sioux City Iowa IA Has $1.91 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Security National Bank of Sioux City Iowa IA trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,837 shares of the information technology service provider’s stock after selling 126 shares during the quarter. Cognizant Technology Solutions makes up approximately 1.3% of Security National Bank of Sioux City Iowa IA’s portfolio, making the stock its 26th largest position. Security National Bank of Sioux City Iowa IA’s holdings in Cognizant Technology Solutions were worth $1,910,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Cognizant Technology Solutions by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider’s stock worth $4,539,290,000 after acquiring an additional 515,881 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider’s stock worth $1,032,239,000 after purchasing an additional 157,464 shares during the period. FMR LLC boosted its holdings in shares of Cognizant Technology Solutions by 1.1% during the fourth quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider’s stock worth $857,205,000 after purchasing an additional 123,745 shares during the period. Invesco Ltd. grew its position in Cognizant Technology Solutions by 2.8% during the fourth quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider’s stock valued at $819,383,000 after purchasing an additional 287,973 shares in the last quarter. Finally, Norges Bank purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $527,719,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTSH. TD Securities upped their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays lowered their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $92.00 to $81.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.87.

Cognizant Technology Solutions Stock Performance

CTSH opened at $81.36 on Friday. The stock’s 50 day simple moving average is $75.02 and its 200-day simple moving average is $78.77. 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 stock has a market cap of $40.24 billion, a PE ratio of 18.04, a P/E/G ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be paid a $0.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.52%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.11%.

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.