Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stake Lessened by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 97.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651 shares of the information technology service provider’s stock after selling 23,028 shares during the period. Strengthening Families & Communities LLC’s holdings in Cognizant Technology Solutions were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CTSH. Brookstone Capital Management boosted its holdings in shares of Cognizant Technology Solutions by 26.3% in the third quarter. Brookstone Capital Management now owns 4,576 shares of the information technology service provider’s stock valued at $353,000 after acquiring an additional 952 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Cognizant Technology Solutions by 38.1% in the third quarter. Gateway Investment Advisers LLC now owns 6,494 shares of the information technology service provider’s stock valued at $501,000 after acquiring an additional 1,792 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $161,000. Compagnie Lombard Odier SCmA bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $193,000. Finally, CX Institutional boosted its holdings in shares of Cognizant Technology Solutions by 5.3% in the third quarter. CX Institutional now owns 4,066 shares of the information technology service provider’s stock valued at $314,000 after acquiring an additional 205 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 0.9 %

CTSH stock opened at $86.96 on Tuesday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $87.61. The company has a quick ratio of 2.23, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.32 and a beta of 1.07. The company has a 50 day moving average of $79.55 and a two-hundred day moving average of $77.65.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be given a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.43%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.61%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTSH. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley raised their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.67.

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.