Signaturefd LLC Boosts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Signaturefd LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 7,376 shares of the information technology service provider’s stock after purchasing an additional 181 shares during the period. Signaturefd LLC’s holdings in Cognizant Technology Solutions were worth $557,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vision Capital Management Inc. increased its position in Cognizant Technology Solutions by 0.4% during the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after purchasing an additional 144 shares during the period. Nilsine Partners LLC increased its position in Cognizant Technology Solutions by 4.3% during the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after purchasing an additional 156 shares during the period. Exchange Traded Concepts LLC increased its position in Cognizant Technology Solutions by 26.5% during 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 period. Sound View Wealth Advisors Group LLC increased its position in Cognizant Technology Solutions by 5.4% during the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock valued at $220,000 after purchasing an additional 165 shares during the period. Finally, Valley National Advisers Inc. grew its position 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 worth $44,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $67.52 on Thursday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09. The company has a 50 day simple moving average of $73.94 and a two-hundred day simple moving average of $72.55. The stock has a market cap of $33.61 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.55 and a beta of 1.06.

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

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were paid a $0.30 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s payout ratio is currently 28.57%.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTSH. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. BMO Capital Markets cut their price objective on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Finally, Societe Generale reaffirmed a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.44.

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.