Sumitomo Mitsui Trust Holdings Inc. Raises Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,423,997 shares of the information technology service provider’s stock after acquiring an additional 2,908 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Cognizant Technology Solutions worth $107,554,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vision Capital Management Inc. grew its stake in Cognizant Technology Solutions by 0.4% in the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after buying an additional 144 shares in the last quarter. Zions Bancorporation N.A. grew its stake in Cognizant Technology Solutions by 29.9% in the 1st quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock worth $58,000 after buying an additional 150 shares in the last quarter. Nilsine Partners LLC grew its stake in Cognizant Technology Solutions by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after buying an additional 156 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Cognizant Technology Solutions by 33.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after buying an additional 158 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.7 %

Shares of NASDAQ CTSH opened at $67.93 on Wednesday. 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 firm has a market capitalization of $33.82 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The firm has a fifty day simple moving average of $75.07 and a two-hundred day simple moving average of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping 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 analyst estimates of $4.76 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.77%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

Analysts Set New Price Targets

A number of equities analysts have commented on CTSH shares. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $85.00 in a research note on Thursday, January 11th. Citigroup upped their price objective on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. Finally, 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 for the company in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.65.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

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.