PNC Financial Services Group Inc. Has $9.19 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

PNC Financial Services Group Inc. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,441 shares of the information technology service provider’s stock after selling 129 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cognizant Technology Solutions were worth $9,185,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Addison Advisors LLC boosted 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 last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Trust Co. of Vermont boosted its holdings 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 valued at $34,000 after buying an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.8 %

Shares of NASDAQ CTSH opened at $82.47 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The stock has a market capitalization of $40.79 billion, a P/E ratio of 18.29, a PEG ratio of 2.11 and a beta of 1.12. The stock’s fifty day moving average is $82.23 and its 200 day moving average is $79.38.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Sell-side 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 was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTSH. Barclays raised their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. BMO Capital Markets raised their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, UBS Group raised their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.