Farther Finance Advisors LLC Trims Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Farther Finance Advisors LLC lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,223 shares of the information technology service provider’s stock after selling 220 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cognizant Technology Solutions were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. Spire Wealth Management boosted its stake in shares of 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 valued at $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $80.02 on Tuesday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. 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 stock has a market cap of $39.58 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.11 and a beta of 1.12. The business’s 50 day moving average price is $82.46 and its 200-day moving average price is $79.44.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its 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%. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.55%. Cognizant Technology Solutions’s payout ratio is 27.49%.

Analyst Ratings Changes

CTSH has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research 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 stock a “market perform” rating in a research note on Thursday, February 6th. Finally, UBS Group reduced their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Cognizant Technology Solutions 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.