Nomura Asset Management Co. Ltd. Acquires 2,944 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nomura Asset Management Co. Ltd. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 199,413 shares of the information technology service provider’s stock after acquiring an additional 2,944 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $15,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. NBC Securities Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at about $27,000. Victory Capital Management Inc. grew its holdings in shares of Cognizant Technology Solutions by 9.3% during the third quarter. Victory Capital Management Inc. now owns 860,195 shares of the information technology service provider’s stock worth $58,270,000 after purchasing an additional 73,470 shares during the last quarter. Versor Investments LP grew its holdings in shares of Cognizant Technology Solutions by 62.7% during the third quarter. Versor Investments LP now owns 7,267 shares of the information technology service provider’s stock worth $492,000 after purchasing an additional 2,800 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of Cognizant Technology Solutions by 11.4% during the third quarter. Flputnam Investment Management Co. now owns 26,454 shares of the information technology service provider’s stock worth $1,792,000 after purchasing an additional 2,705 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Cognizant Technology Solutions by 101.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 5,020 shares of the information technology service provider’s stock worth $340,000 after purchasing an additional 2,527 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Susquehanna reduced their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Citigroup reduced their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Finally, Evercore ISI upped their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.67.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $68.32 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a 52-week low of $61.12 and a 52-week high of $80.09. The business’s 50 day moving average price is $69.47 and its two-hundred day moving average price is $72.90. The firm has a market cap of $33.97 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

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.