Simplicity Wealth LLC Acquires Shares of 2,878 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Simplicity Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,878 shares of the information technology service provider’s stock, valued at approximately $221,000.

Other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Trust Co. of Vermont increased 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 purchasing an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $82.47 on Wednesday. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The firm has a market cap of $40.79 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. 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 business has a fifty day moving average of $82.23 and a 200-day moving average of $79.38.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CTSH shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group upped their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays increased 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. Morgan Stanley increased their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.67.

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.