Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,846 shares of the information technology service provider’s stock after acquiring an additional 1,744 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cognizant Technology Solutions were worth $3,217,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after buying an additional 867,176 shares during the last quarter. Geode Capital Management LLC increased its position in Cognizant Technology Solutions by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after purchasing an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cognizant Technology Solutions by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after acquiring an additional 44,129 shares during the period. ING Groep NV lifted its stake in shares of Cognizant Technology Solutions by 17.9% in the fourth quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock valued at $224,694,000 after purchasing an additional 443,536 shares during the period. Finally, Cibc World Market Inc. lifted its position in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after acquiring an additional 705,946 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.2 %

Shares of Cognizant Technology Solutions stock opened at $83.99 on Friday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The firm has a market capitalization of $41.54 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. 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’s fifty day moving average is $81.47 and its 200-day moving average is $78.87.

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

Cognizant Technology Solutions Increases Dividend

The business 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 is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of a number of research reports. Barclays increased 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 note on Monday, February 10th. Morgan Stanley raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. TD Cowen upped their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price 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, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average 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.