Gitterman Wealth Management LLC Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Gitterman Wealth Management LLC purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,005 shares of the information technology service provider’s stock, valued at approximately $308,000.

Other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama raised its stake in 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 buying an additional 40,226 shares in the last quarter. CGN Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of 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 worth $33,041,000 after purchasing an additional 144,535 shares during the last quarter. Todd Asset Management LLC boosted its position in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its stake in Cognizant Technology Solutions by 52.0% in the fourth 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 purchasing an additional 17,134 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CTSH shares. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group increased their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley dropped their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday. 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, the stock presently has an average rating of “Hold” and a consensus target price of $83.39.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $79.12 on Friday. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a 50 day simple moving average of $82.38 and a two-hundred day simple moving average of $79.41. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, analysts predict 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 declared 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 of this dividend was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions’s 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.