Peregrine Asset Advisers Inc. Sells 360 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Peregrine Asset Advisers Inc. trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,800 shares of the information technology service provider’s stock after selling 360 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Cognizant Technology Solutions were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth $1,972,000. Retirement Systems of Alabama increased its stake in shares of Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after purchasing an additional 40,226 shares during the period. CGN Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its stake in Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after purchasing an additional 144,535 shares during the period. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Activity

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. Barclays increased their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley lifted their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $83.67.

Cognizant Technology Solutions Trading Down 3.1 %

Shares of CTSH stock opened at $84.82 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $42.05 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.13 and a beta of 1.07. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The firm has a 50-day moving average price of $81.11 and a 200 day moving average price of $78.57.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

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.