Securian Asset Management Inc. Has $2.05 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Securian Asset Management Inc. cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,647 shares of the information technology service provider’s stock after selling 766 shares during the period. Securian Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $30,000. Trust Co. of Vermont grew its position in 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 purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at $36,000. Finally, Spire Wealth Management raised its holdings in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after buying an additional 204 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CTSH shares. UBS Group lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.39.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $78.34 on Friday. The company has a market capitalization of $38.75 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.11 and a beta of 1.12. The business has a fifty day simple moving average of $82.32 and a two-hundred day simple moving average of $79.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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 return on equity of 16.78% and a net margin of 11.35%. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

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.