UMB Bank n.a. boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,502 shares of the information technology service provider’s stock after purchasing an additional 254 shares during the quarter. UMB Bank n.a.’s holdings in Cognizant Technology Solutions were worth $116,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC grew its holdings 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 buying an additional 189 shares during the period. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $30,000. Trust Co. of Vermont grew its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the period. Pinnacle Bancorp Inc. raised its position in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Finally, Eastern Bank bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Cognizant Technology Solutions Stock Up 0.8 %
Shares of CTSH stock opened at $79.68 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.05 and a beta of 1.07. The firm’s 50-day moving average is $78.73 and its 200-day moving average is $76.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.
Cognizant Technology Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.
Insider Transactions at Cognizant Technology Solutions
In other news, CAO John Sunshin Kim sold 5,000 shares of the 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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts recently issued reports on CTSH shares. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Fifteen equities research 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 has an average rating of “Hold” and an average price target of $81.19.
View Our Latest Report on CTSH
About Cognizant Technology Solutions
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.
Further Reading
- Five stocks we like better than Cognizant Technology Solutions
- Profitably Trade Stocks at 52-Week Highs
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- What Does a Stock Split Mean?
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- How to Plot Fibonacci Price Inflection Levels
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.