Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Increased by Greenleaf Trust

Greenleaf Trust increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.4% 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 5,757 shares of the information technology service provider’s stock after acquiring an additional 896 shares during the period. Greenleaf Trust’s holdings in Cognizant Technology Solutions were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $26,000. NBC Securities Inc. acquired a new position in Cognizant Technology Solutions during the third quarter worth $27,000. Valley National Advisers Inc. increased its position in Cognizant Technology Solutions by 43.2% during the fourth 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. Exchange Traded Concepts LLC increased its position in Cognizant Technology Solutions by 26.5% during the third 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 during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $52,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.6 %

NASDAQ:CTSH opened at $67.77 on Wednesday. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $33.74 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.54 and a beta of 1.06. The stock’s fifty day simple moving average is $74.13 and its 200-day simple moving average is $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 1.77%. Cognizant Technology Solutions’s payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTSH shares. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Susquehanna reissued a “neutral” rating and issued a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. BMO Capital Markets dropped their price target on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Finally, Societe Generale reiterated a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $76.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.