SVB Wealth LLC Has $425,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

SVB Wealth LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,622 shares of the information technology service provider’s stock after buying an additional 889 shares during the period. SVB Wealth LLC’s holdings in Cognizant Technology Solutions were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. D.A. Davidson & CO. bought a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at $256,000. Canada Pension Plan Investment Board raised its holdings in shares of Cognizant Technology Solutions by 84.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after purchasing an additional 123,220 shares in the last quarter. Cetera Investment Advisers raised its holdings in Cognizant Technology Solutions by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after acquiring an additional 1,523 shares during the period. Sequoia Financial Advisors LLC bought a new position in Cognizant Technology Solutions in the 1st quarter worth $239,000. Finally, Brighton Jones LLC raised its holdings in Cognizant Technology Solutions by 18.7% in the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions 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 transaction, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

CTSH has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Royal Bank of Canada lifted their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Wedbush lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, December 26th. Societe Generale reiterated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Finally, Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.94.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $67.44 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The firm’s 50-day simple moving average is $74.45 and its 200-day simple moving average is $72.58. Cognizant Technology Solutions Co. has a twelve month low of $58.09 and a twelve month high of $80.09. The firm has a market cap of $33.57 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share 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 for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.78%. Cognizant Technology Solutions’s payout ratio is 28.57%.

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.