abrdn plc Has $19.45 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

abrdn plc grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,553 shares of the information technology service provider’s stock after buying an additional 97,134 shares during the period. abrdn plc owned approximately 0.05% of Cognizant Technology Solutions worth $19,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFG Advisory LLC boosted its holdings in Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after purchasing an additional 20,874 shares during the period. Qube Research & Technologies Ltd raised its holdings in Cognizant Technology Solutions by 36.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after acquiring an additional 324,638 shares in the last quarter. PGGM Investments lifted its position in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after acquiring an additional 26,035 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after purchasing an additional 704,932 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Cognizant Technology Solutions by 4.4% in the fourth quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock worth $358,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions 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 transaction, the executive vice president now 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. 0.27% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $67.52 on Thursday. The firm has a market cap of $33.61 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52 week low of $58.09 and a 52 week high of $80.09. The firm’s fifty day moving average is $73.94 and its 200-day moving average is $72.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results 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 return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is 28.57%.

Analyst Ratings Changes

CTSH has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Susquehanna reiterated a “neutral” rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Guggenheim started coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Societe Generale restated a “sell” rating and set 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 issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target 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.