Ballentine Partners LLC Increases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Ballentine Partners LLC boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,663 shares of the information technology service provider’s stock after buying an additional 789 shares during the period. Ballentine Partners LLC’s holdings in Cognizant Technology Solutions were worth $589,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CTSH. Addison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions during the third quarter valued at $30,000. Trust Co. of Vermont grew its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Finally, Eastern Bank purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $37,000. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTSH has been the subject of a number of analyst reports. TD Cowen raised their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.19.

Read Our Latest Stock Analysis on Cognizant Technology Solutions

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Stock Up 0.8 %

Cognizant Technology Solutions stock opened at $79.68 on Friday. The stock has a market cap of $39.51 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average of $78.73 and a 200 day moving average of $76.73. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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